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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Microsoft is Presently Being Audited By the IRS

Microsoft is being audited by the IRS and they demand leaders testify The IRS is suing a number of former and current executives of Microsoft in a bid to force them to testify in an investigation into the company’s corporate tax practices. According to The Seattle Times, at issue is whether the company is following […]

Author: Scarinci Hollenbeck, LLC

January 14, 2015

Burger King Is About To Save Big By Moving To Canada

As was widely reported a few months ago, Burger King is expected to complete a corporate inversion by purchasing Canadian donut company Tim Horton. Spinning both companies into subsidiaries of a new, multinational fast-food company headquartered in Canada. New numbers released by tax watchdog Americans for Tax Fairness showed just how much Burger King will be […]

Author: James F. McDonough

December 17, 2014

Warren Buffet Wants Higher Taxes

The ‘Oracle of Omaha,’ billionaire investor Warren Buffet, is still touting the importance of higher taxes. Buffet said Oct. 6 that the recent White House action to limit tax inversions – in which companies shift their headquarters outside the U.S. to lower their tax bills – provides a good “time out” for the government to work on a […]

Author: James F. McDonough

October 21, 2014

US Treasury Tries To Curb Inversions

The U.S. Treasury Department announced Sept. 22 that it will move to disincentivize the practice of corporate inversions. A corporate inversion occurs when a multi-national business merges with a company overseas to take advantage of the lower tax environment to be had there. Treasury Secretary Jacob Lew explained to reporters on a conference call that a […]

Author: Scarinci Hollenbeck, LLC

October 2, 2014

Bill Clinton Discusses Corporate Taxation

During an interview with CNBC, former President Bill Clinton discussed corporate taxation and the controversial practice of “inverting,” a tax move that involves merging with a company in a low-tax country to obtain foreign tax status. Taking a stance that has been frequently espoused by conservative politicians, Clinton told CNBC’s Becky Quick that the U.S.’s […]

Author: James F. McDonough

October 1, 2014

20 profitable U.S. companies Paid No Corporate Income Tax Last Quarter

Corporate taxation has become an important issue in the U.S., as budget deficits loom and an important election approaches. Many U.S. companies have said that high corporate income tax is onerous and reduces their ability to compete globally. According to USA Today analysis of S&P Capital IQ data, however, there were at least 20 companies […]

Author: Scarinci Hollenbeck, LLC

August 20, 2014

Democrats Ask Obama To Act Alone On Inversions

A few key Democratic Senators have asked President Barack Obama to act alone to end the practice of corporate inversions. Sen. Dick Durbin, D-Illinois; Sen. Elizabeth Warren, D-Massachusetts; and Sen. Jack Reed, D-Rhode Island, sent Obama a letter Aug. 5 asking that he pass an executive order to eliminate or reduce the tax breaks companies see by […]

Author: Scarinci Hollenbeck, LLC

August 14, 2014

Mark Cuban Protests Tax Inversions

Billionaire investor and Dallas Mavericks owner Mark Cuban has a message for U.S. multinational corporations considering an inversion. “If I own stock in your company and you move offshore for tax reasons I’m selling your stock,” Cuban said in a series of tweets. “There are enough investment choices out there.” Corporate inversions refer to the […]

Author: Scarinci Hollenbeck, LLC

August 6, 2014

Inversions To Be An Election Hot-Button Issue

Corporate inversions, in which a U.S.-based multinational acquires a smaller, foreign firm in order to re-domicile in a new, lower-tax country, have become a serious issue in American politics recently. Now, it appears that this issue may be a powerful motivator in the upcoming midterm House and Senate elections this November, according to The Wall […]

Author: James F. McDonough

August 4, 2014

Treasury Secretary urges Congress to end inversions

Treasury Secretary Jacob Lew sent letters to the top lawmakers on the House Ways and Means Committee and the Senate Finance Committee on July 15, in an attempt to effect action on the issue of corporate tax inversions, according to The New York Times. Inversions are the controversial – but popular – practice of merging with […]

Author: Scarinci Hollenbeck, LLC

July 28, 2014

New Congressional Report Highlights Tax Inversions

Most U.S. politicians agree that the tax code should be dramatically revamped, but little has been done so far to accomplish this goal. In an attempt to spur reform, Rep. Sandy Levin, D-Michigan, published a report examining the corporate practice of shifting headquarters overseas in order to dodge U.S. taxes, according to The Hill. Known […]

Author: James F. McDonough

July 14, 2014

Medtronic the Latest Company to Propose Tax Inversion

Yet another U.S. health care company is set to take part in a corporate inversion, in which a U.S.-based firm merges with a foreign company in order to take advantage of lower tax rates abroad. Medtronic Inc. is set to become the largest company yet to perform a tax inversion with its plans to merge with former-U.S. company Covidien […]

Author: Scarinci Hollenbeck, LLC

June 25, 2014

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