Covidien

Tyco, Tax Inversions, Income Shifting, and Lost Revenue

Yesterday was quite a day for corporate tax geeks. We saw a corporate tax inversion that comes with a long, Baroque history; an estimate by Reed College economist Kim Clausing that inversions and other income-shifting techniques reduced Treasury revenues by as much as $111 billion in 2012; and a

January 25, 2016Howard Gleckman

: TaxVox

“Communication” Defined, Cash Borrowed, Reform Still Needed

Congress is in recess through the mid-term elections. The Daily Deduction will post each Monday until then. In Oregon, Comcast’s cable service is ruled a “communication” service, and its tax bill could be huge. So said the Oregon Supreme Court late last week: Property that Comcast uses to provide

October 6, 2014Renu Zaretsky

Individual Taxes: TaxVox

The Tax-Shopping Backstory of the Medtronic-Covidien Inversion

How can a company headquartered in Minneapolis merge with a competitor run out of Mansfield, Massachusetts in order to pay taxes in Ireland? It’s just another day in corporate inversion-land, where an opportunity to cut taxes is once again driving key business decisions. This time, the buyer is

June 17, 2014Howard Gleckman