Corporations Use $20 Billion Legal Tax Loophole

As the economy threatens to fall into a recession and an increasing number of Americans are struggling to make ends meet, many corporations are drastically reducing their tax liability to the federal government through a perfectly legal practice known as transfer pricing, costing the Treasury more than $20 billion a year. "Large corporations don't hide income, but they might engage in very sophisticated transactions that reduce their tax liability in ways that aren't appropriate," said Eric...Full Story
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