Tag: Caterpillar IRS

Construction Equipment

Cat slapped with $2.3B penalty by IRS for avoiding taxes

Caterpillar’s tax woes continue to compound with news today that federal tax penalties the heavy equipment manufacturer is facing have more than doubled. According to the company’s annual 10-K report filed Thursday with the U.S. Securities and Exchange Commission, Cat now faces $2.3 billion worth of back taxes and penalties as the result of Internal […]

February 15, 2018

Construction Equipment

Cat tax whistleblower could get IRS reward of $600 million

A bombshell report from Bloomberg Businessweek on the inner workings of an alleged tax evasion scheme inside Caterpillar says the man who alerted authorities could walk away with the biggest paycheck of any U.S. whistleblower to date, and paints a not-so-pretty picture for Cat as a federal investigation into the company continues. According to the report, Daniel […]

June 5, 2017

Business

Caterpillar hit with $1 billion in penalties, taxes on Swiss unit as feds open new investigation into overseas profit shifting

If slumping mining demand and oil prices hadn’t made things hard enough on the company’s finances, Caterpillar is now facing increased pressure from the U.S. government for the movement of cash between it and its overseas subsidiaries. After a review of the company’s 2007 to 2009 tax returns, which include a loss carryback to 2005, the Internal […]

February 19, 2015