Anyone know anything about the Fed's raid on their offices in Illinois? I'm in the midst of some business with them and the timing of this is no bueno. News articles don't seem to give any reason for the raid. Obviously will find out in due time but just curious if anyone knows anything.
Announcement
Collapse
No announcement yet.
Caterpillar
Collapse
X
-
Originally posted by Pedernal View Postarticles pertaining to the raid seem really vague at this point. One has a comment that states that "employees from tax and accounting departments are sequestered". If this is true, I would imaging catapillar has not been paying taxes properly.
Comment
-
The Feds have not said what they are looking for. However CAT has been fighting an IRS demand that they pay something like $2 billion in taxes and penalties for profits assigned to their Swiss parts distribution subsidiary. They have been accused of shifting profits away from the U.S to avoid taxes. CAT has maintained what they have done is within the law. Also a big law firm that sues companies on behalf of stockholders announced today they are doing an investigation concerning possibly misleading statements to the investing public. The stock is getting clobbered.Last edited by jerp; 03-02-2017, 01:57 PM.
Comment
-
Originally posted by jerp View PostThe Feds have not said what they are looking for. However CAT has been fighting an IRS demand that they pay something like $2 billion in taxes and penalties for profits assigned to their Swiss parts distribution subsidiary. They have been accused of shifting profits away from the U.S to avoid taxes. CAT has maintained what they have done is within the law. Also a big law firm that sues companies on behalf of stockholders announced today they are doing an investigation concerning possibly misleading statements to the investing public. The stock is getting clobbered.
Comment
-
Originally posted by bdchorn View PostSaw another piece that mentioned BIS (Bureau of Industry and Security) was involved. This often means selling to the wrong countries and could be worse than an IRS problem.
Originally posted by Tmag View PostHate to see this, hope they get it resolved.
Comment
Comment