Congressional Investigation: Apple Avoided Billions of Dollars in Taxes

Tuesday, May 21, 2013

Can a management team's cleverness get them in trouble?

As Apple C.E.O. Timothy Cook comes under fire, so does the C.E.O. of the nation's largest bank. J.P. Morgan's Jamie Dimon faced a crucial vote today on whether he could stay on as both chairman and C.E.O. of the bank. Shareholders ultimately voted against the proposal to split the bank's top jobs, but billions of dollars of troubled trades last year had shareholders up in arms. 

At Apple, clever maneuvering around taxes may be giving the company more unwanted publicity at a time when shareholders are already angry at C.E.O. Tim Cook over his unwillingness to hand over company cash in stock dividends. A Congressional investigation into Apple's finances reveals that the tech company has avoided billions of dollars in taxes in the United States by setting up some of the company's top employees abroad and effectively making them exempt from taxes.

Charlie Herman, economics editor for WNYC Radio, has the latest on what this means for the nation's largest tech company.

Guests:

Charles Herman

Comments [2]

unkerjay from Puget Sound, WA

There will be cameras? Do I look really really angry? Annoyed? Concerned?

How about my talking points? Good. I want to people to know that I really really don't like this - at all.

That's what they pay me for. To put up the good fight. Year after year after year.

Cause what's more important - getting something done? Or wanting to? Really really wanting to.

May. 22 2013 03:45 AM
Marla from Dallas, TX

I find it interesting that Congress has targeted Apple. What about GE and Exxon - two companies known for having floors of the top tax accountant/attorneys in the company to help them not pay taxes...

May. 21 2013 12:46 PM

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