Tag: Caterpillar taxes

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

Business

Republican Senators turn tables on investigation in vocal defense of Caterpillar during tax hearing

Though a U.S. Senate report written by Michigan Democrat Sen. Carl Levin concluded that Caterpillar had done nothing illegal in offshore tax strategy, most expected a Tuesday hearing before the Permanent Subcommittee on Investigations to amount to a prolonged scolding for Cat and its financial adviser PricewaterhouseCoopers LLP. In the end, it was more of a fair […]

April 1, 2014

Construction Equipment

Caterpillar to defend tax strategy before U.S. Senate today, will likely receive support from John McCain

Caterpillar has confirmed an earlier report by saying it is scheduled to testify in a U.S. Senate hearing on whether the company illegally shifted profits overseas to avoid paying federal taxes. According to a report from Reuters, the Senate’s Permanent Subcommittee on Investigations headed by Michigan Democrat Sen. Carl Levin, prepared a report that focuses on Caterpillar corporate […]

March 31, 2014

Business

Report: Senate panel investigating Caterpillar for avoiding taxes

A U.S. Senate panel that has investigated Microsoft, Hewlett-Packard and Apple for avoiding paying federal taxes has now turned its attention to Caterpillar, according to a report from Bloomberg. The panel is investigating whether Caterpillar shifted profits overseas to avoid paying taxes, the report says, citing three anonymous sources. In early April, the Senate’s Permanent Subcommittee […]

March 27, 2014