Study: 500 Largest US Companies Hiding $2.1 Trillion Offshore To Dodge Taxes

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New study finds over $2.1 trillion being hidden offshore by 500 largest U.S. companies to evade taxes.

“The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid U.S. taxes and would collectively owe an estimated $620 billion in U.S. taxes if they repatriated the funds, according to a study released on Tuesday.

The study, by two left-leaning non-profit groups, found that nearly three-quarters of the firms on the Fortune 500 list of biggest American companies by gross revenue operate tax haven subsidiaries in countries like Bermuda, Ireland, Luxembourg and the Netherlands.” [READ MORE]

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