Businesses Tell the IRS They Are Not American but Executives Stay in USA
Posted on June 4, 2008 Comments (3)
I have previously written about the ethically challenged companies that claim they are not American to avoid paying the taxes that they owe. For some reason the executives, often seem to stay in the USA though? It is sad that such behavior is tolerated.
Yes the same company taking billions in Pentagon no-bid contracts (Company Official Defends No-Bid Army Contract – Halliburton Contract Critic Loses Her Job – Halliburton’s Fleecing Ends — Or Does It?).
And that isn’t all – read this on how they don’t pay social security or unemployment… taxes since they are not an American company when they hire American’s to work for the US government in Iraq. Top Iraq contractor skirts US taxes offshore – “Kellogg Brown & Root, the nation’s top Iraq war contractor and until last year a subsidiary of Halliburton Corp., has avoided paying hundreds of millions of dollars in federal Medicare and Social Security taxes by hiring workers through shell companies based in this tropical tax haven.”
3 Foster Wheeler Ltd…
4 Ingersoll-Rand Co. Ltd.This New Jersey-based company, which manufactures Thermo King refrigerated trucks, also moved to Bermuda in 2001. In 2007, the company faced an IRS (Internal Revenue Service) audit over the way it classified some debt in its reincorporation in Bermuda in 2002.
The others that decided they were not American: Tyco International Ltd., Cooper Industries Inc., Global Crossing, Seagate Technology LLC, Nabors Industries Ltd..