Mutual-fund giant Vanguard Group underpaid taxes on its income in Texas for 2010-14, according to records of the Texas Comptroller of Public Accounts. State-sponsored audits found payment “deficiency” for all four years in Vanguard’s payments of the state’s corporate franchise tax, which charged companies 1 percent percent of a company’s… – Continue reading
The Internal Revenue Service says some of America’s most successful companies have been shuttling money to avoid paying their share of federal income taxes. Microsoft is fighting IRS attempts to collect more than $2 billion from profit the software giant transferred between foreign affiliates. Amazon.com is fighting to keep $1.5… – Continue reading
News leaked late last week that Swiss banking giant UBS is again under DOJ investigation for aiding tax fraud by U.S. clients. In 2009, UBS pled guilty to a criminal tax conspiracy charge, and received a deferred prosecution agreement. UBS admitted that thousands of unreported and untaxed accounts at the… – Continue reading
On May 1, 1975, Princeton graduate John C. Bogle launched an investment company on a bold new idea: it would be owned by its member funds and operated for the benefit of its shareholders. That company, the Vanguard Group, is now one of the world’s largest investment companies with about… – Continue reading
