Elan Keller Offers Reactions to Senate Permanent Subcommittee on Investigations' Hearing
WASHINGTON, Sept. 21, 2012 /PRNewswire/ — In reaction to the Permanent Subcommittee on Investigations' hearing on offshore profit shifting and the U.S. tax code, Elan Keller, member at renowned tax firm Caplin & Drysdale, is offering commentary on the impact this hearing will have on U.S. corporations in relation to offshore profit allocation and the U.S. Tax Code. During yesterday's hearing, the Subcommittee examined the shifting of profits offshore by U.S. multinational corporations and how such activities are affected by the Internal Revenue Code and related regulations.
"The ability of US multinational corporations to engage in creative tax planning is becoming more difficult due to the current trend requiring more transparency at both the tax reporting and tax compliance levels," said Elan Keller, member, Caplin & Drysdale. "Given the global economic environment, U.S. multinational corporations will be under more scrutiny by Congress and the IRS which may cause them to take a second look at their tax planning structures."
For further commentary on this issue, please see contact details below:
Who: Elan Keller, member at Caplin & Drysdale and former Macquarie Americas Tax Director
What: Comments on the Permanent Subcommittee on Investigations' hearing on offshore profit shifting and the U.S. tax code
For more than 45 years, Caplin & Drysdale has been a leading provider of tax and legal services to companies, organizations, political entities, and individuals throughout the United States and around the world. In addition to being routinely recognized in top rankings such as Chambers, Best Lawyers and Legal 500, our ranks include senior staff from the Internal Revenue Service, the U.S. Treasury, and the Justice Department whose substantial technical skill and considerable knowledge on how tax law is made and administered illustrate our commitment to client service. We focus on minimizing our clients' tax liabilities without compromising the ethical principles essential to the integrity of the tax system. With offices in Washington, DC and New York, the firm also provides counseling on matters relating to bankruptcy, creditors' rights, political activity, exempt organizations, complex litigation, employee benefits, private client services, corporate law, and white collar defense. For more information, please visit us at www.caplindrysdale.com.
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