Category: Indiana
Four years of monitoring have crushed tax fraud in Indiana
Officials say fraudulent claims fell off quickly after new technologies took the state off attackers’ easy-target list. With tax season comes attempted fraud, as crooks use false identities to try to trick all levels of government into sending them refund checks. There are ways to fight back, though, and Indiana… – Continue reading
Indiana Combined Reporting and Transfer Pricing Studies
On October 1, 2016, the Indiana Office of Fiscal and Management Analysis of the Indiana Legislative Services Agency released a Combined-Reporting Study and a Transfer Pricing Study. These studies, which address corporate income tax issues, were required by legislation passed in 2016. The Combined-Reporting Study discusses the reduction of state… – Continue reading
Trump warns that companies that offshore jobs will face 35 percent tariff
President-elect Donald Trump fired another warning shot Sunday at U.S. companies considering moving their operations out of the country, threatening “retributions or consequences” such as a hefty border tax if they do. The pronouncements came in a string of early morning tweets. Trump declared that he intends to incentivize businesses… – Continue reading
Time for U.K. to Get Tough on Offshore Transparency?
With the exception of British Antarctica, the U.K.’s overseas territories and offshore dependencies are all surrounded by sun-winking ocean water. But that’s not their only common feature—they are all under increasing political pressure to become more transparent with their financial information. In a parliamentary report on tackling overseas corruption, the… – Continue reading
STUDY: 73% OF FORTUNE 500 COMPANIES USED TAX HAVENS IN 2015
In 2015, more than 73 percent of Fortune 500 companies maintained subsidiaries in offshore tax havens, according to “Offshore Shell Games,” released today by the U.S. PIRG Education Fund, Citizens for Tax Justice and the Institute on Taxation and Economic Policy. Collectively, multinationals reported booking $2.5 trillion offshore, with just… – Continue reading
Lake commissioner complains of double taxes
CROWN POINT — Lake County officials are debating whether they have accidentally double taxed Cedar Lake and Schererville residents. Lake County Commissioner Gerry Scheub, D-Crown Point, argues this week a mistake by the County Council in funding the county’s E-911 public safety dispatching service has resulted in Cedar Lake residents… – Continue reading
