How much money to American Corporations save in Taxes every year by using "Tax Havens"?
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M$3 Answers
The use of tax havens to evade taxation depends in large part on the strict secrecy laws that prevent banking institutions from releasing information about their account holders. In a huge victory for the IRS, the Swiss banking giant UBS recently agreed to pay fines of $780 million to the IRS for soliciting Americans to participate in tax evasion schemes. In addition, the Swiss government ordered UBS to release the names of 4,450 US account holders. Several UBS clients have already pled guilty to tax fraud and received prison sentences.
For the first time, it appears that efforts to reduce the international tax gap may actually be paying off. The additional tax revenue could be used to fund the President's health care plan and for education.
International Revenue Service, International Tax Gap Resourceshttp://www.irs.gov/businesses/article/0,,id=180259,00.htmlU
US Makes Dent in the Tax Gap, International Tax Review
http://www.internationaltaxreview.com/?Page=9&PUBID=210&ISS=25437&a...
IRS Probe Targets Lawyers, Banks As UBS Data Shred Secrecy, Bloomberg.com
http://www.bloomberg.com/apps/news?pid=20603037&sid=aN8m12kSiZ9E
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M$You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$Give more money to the so they can wast it.
Example the ACORN scandal. $50 BN of our tax money. They helped crash the housing market, set up prostration rings, money laundrying, voter fraud, and voter registration fraud.
I am a land lord when property tax goes up so does rent. Is this helping the poor? I don't think so.
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M$
Acorn push lenders to give money to people that couldn't afford it. People buying more house then they could afford crashed the housing market.
If a auto plant is going to close what does the government do it gives them a tax shelter so thousands of people can keep there job.
Remember there is two sides to every issue.
50 BN where do you get your information? fox news? talk radio? newsmax?
Yes I was little off, Sorry about that. I should of said $53 Million from our tax money, and $5.2 billion from the stimulus.
http://www.politico.com/news/stories/0909/27208.html
I'm sure glad we didn't 50bn to them but $53 Million is still a lot to give criminals.
Tax havens like that seen in Switzerland encourages money from corporations and individuals to be hidden away from the US not to be invested like most tax incentives.
ACORN never received that much money from the govt.. If your talking about the $5.2 billion from the stimulus, then yes ACORN was eligible to compete - against hundreds of other groups. Also ACORN was never accused of stuffing ballot boxes. It was accused of ATTEMPTED voter registration.
http://www.factcheck.org/elections-2008/acorn_accusations.html
http://factcheck.org/2009/02/the-stimulus-bill-and-acorn/
Acorn crashed the housing Market?
Tax Haven's are good?
Wow, interesting take
