Check Out Who’s Hiding $32 Trillion in Offshore Accounts. More than two million emails that shed light on the biggest tax dodge in history – trillions of dollars hidden in offshore accounts -

…The information is still being sifted through, even as it’s being released to the public, but here’s some of what’s been found so far:

American Denise Rich, ex-wife of pardoned tax cheat Marc Rich, has been uncovered as the settlor and beneficiary of two large trusts based in the tiny Cook Islands. The ICIJ found that Denise Rich gave up her American citizenship in 2012. Her citizenship was convenient enough when [...]

May 1st, 2013 | Tags: , , , , , , , , , , , , , , , , , , , | Category: All | Leave a comment

Dealmaker Baucus Turns to Rewrite of U.S. Tax Code

+Senator Max Baucus, the Montana Democrat who has centered his 37-year congressional career on attempts to build bipartisan consensus, is preparing to take on the U.S. tax code.

 

+Many Democrats, including President Barack Obama, want to generate more tax revenue, particularly from high-income earners and multinational companies’ overseas operations. The Republicans whose votes Baucus would need to move major tax legislation in the Senate want to avoid such increases and lessen [...]

June 8th, 2012 | Tags: , , , , , , , , , , , , , , , , , , , | Category: All | Leave a comment

FACEBOOK CO-FOUNDER TO SAVE $67M GIVING UP PASSPORT.

Facebook Inc. (FB) co-founder Eduardo Saverin will save at least $67 million in federal income taxes by dropping U.S. citizenship, according to a Bloomberg analysis of the company’s stock price. Those savings will keep growing if Facebook’s shares increase.

Saverin renounced his citizenship around September and he lives in Singapore, according to his spokesman, Tom Goodman. Saverin, 30, was part of a small group of Harvard University students who started the social networking [...]

May 16th, 2012 | Tags: , , , , , , , , , , , , , , , , , , , | Category: All | Leave a comment