Sens. Carl Levin and John McCain, who together run the Senate's permanent investigative subcommittee, sent a letter to the IRS on Thursday calling for Lois Lerner, the woman at the center of the agency's conservative-targeting scandal, to be suspended for dereliction of duty. Mr. Levin, Michigan Democrat, and Mr. McCain, ...

Apple appeared in Washington D.C. to testify about its overseas profits, and its tax rate. The main point of focus during the inquiry was an Irish Apple subsidiary called Apple Operations International (AOI). AOI is the holding company that Apple's international sales flow through. Apple worked out a deal with the Irish government that AOI would only be taxed at ...

“There’s no shifting going on, that I see at all,” Apple CEO Tim Cook explained to a Senate investigations subcommittee chaired by Carl Levin (D-Mich.), referring to his company’s Irish subsidiary AOI, which has been painted as a tax shelter. It has 4,000 employees, but it also helped Apple avoid roughly $20 billion in U.S. corporate income taxes last year. ...

Apple CEO Tim Cook faced scrutiny of his firm’s tax avoidance practices in a Senate hearing Tuesday, but found a champion in Kentucky Republican Rand Paul, who had apologized to Cook for the inquiry earlier in the day. “We are proud to be an American company and equally proud of our contributions to the U.S. economy,” Cook said. “We pay ...

"I've never seen anything like this and we don't know anybody who has ever seen anything like this," Senator Carl Levin (D-Mich.) said yesterday of Apple's baroque tax avoidance strategies. Apple CEO Tim Cook, who will testify before the Senate Subcommittee on Investigations today, is  aggressively spinning the company's tax strategies as patriotic, commonsensical, and no big deal. Here are ...