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Caterpillar Inc., Under the Gun with $2.4 Billion IRS Audit
Things are not starting the the new year off right for manufacturing giant Caterpillar, Inc. Last year the IRS came down on Caterpillar for attempting to use some creative accounting practices to avoid paying tax on earned income. The investigation by the IRS started many years ago and was officially entered into legal precedent last March. Investigators have stated that Caterpillar has evaded paying their full share of taxes going back 18 years. If found to be true the company used illegal tax strategies to save over $2.4 billion. ... Read more