Deutsche Being Bank Accused of Tax Fraud By Federal Prosecutors
The U.S. has been increasingly going after foreign financial institutions that try to skimp on taxes. The latest move from the IRS is an aggressive lawsuit against Deutsche Bank, which the federal tax agency claims owes the U.S. somewhere in the neighborhood of $190 million in overdue taxes, penalties and interest.
However, if you ask Deutsche Bank, they settled this dispute five years ago. According to reports, the large German bank claims that it reached a settlement with the IRS back in 2009 and it is not sure why the U.S. is coming after again regarding the same taxes.
The issue revolves around a deal that began back in 200 when Deutsche Bank acquired a company that owned three million shares of Bristol-Myers Squibb. When those shares jumped in value, the U.S. claims that Deutsch Bank skipped out on tens of millions of dollars in taxes from capital gains, when the bank eventually sold the shares.
According to the lawsuit the U.S. claims that the bank set up several so-called “shell companies” in order to absorb the tax blow from the profits made when they sold the shares. The IRS claims, however, that those shell companies did not have enough money to pay the taxes the federal government was owed. The lead prosecutor in the case claims that Deutsche Bank was involved in “nothing more than a shell game.”
Approaching “Star Trek” Like Medical Technology
Episode Transcript of: Approaching “Star Trek” Like Medical Technology Alan Welcome back. I’m here today with Joe DeLuca. He’s the founder of healthcare investment vision USA. Joe, welcome to the show. Joseph Thank you. Good to be back. Alan So for, for the listeners sake, and we really appreciate you coming back and returning actually,…
Stanford’s Entrepreneurship | Douglas Y. Park
Stanford’s Entrepreneurship | Douglas Y. Park Transcript: Unknown Speaker 0:00 Welcome to American Dreams keys to success with your host, Alan Olsen. Welcome Alan 0:05 back. We’re here today with Dr. Douglas Park. He practices slot remote attorneys and teaches classes and entrepreneurship at Stanford University. Welcome to today’s show, Doctor, Douglas 0:17 thank you…
Wally Hawley on American Dreams
Interview Transcript of: Wally Hawley on American Dreams Alan This is Alan Olsen American Dreams, the keys to life success where we talk about how to live the life that you want to live. Nadine And this is needing camera. What are your dreams? What do you want out of life and what define…
CA Tax Issues | Kitty Wright
CA Tax Issues | Kitty Wright We hope you found this interview about “CA Tax Issues | Kitty Wright” enjoyable. To receive our free newsletter, contact us here. Subscribe our YouTube Channel for more updates. This transcript was generated by software and may not accurately reflect exactly what was said. Alan Olsen, is the Host of the…