Accounting News Roundup: Caterpillar’s Fight, Google’s Euros, Failed Flip-Flops | 01.03.18

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What New Tax Law? Caterpillar Fights to Protect Its Swiss-Made Profits [WSJ]
An exhaustive look at Caterpillar’s battle with the IRS, including a nod to PwC for Best Accounting Firm With Conflicts of Interest in a Supporting Role.

Former Treasury Secretary Lew Says Tax Cuts Will Leave the U.S. Broke [Bloomberg]
Jack sees where this is going: “How are we going to pay for the deficit caused by the tax cut? We are going to see proposals to cut health insurance for poor people, to take basic food support away from poor people, to attack Medicare and Social Security. One could not have made up a more cynical strategy.”

Google’s ‘Dutch Sandwich’ Shielded 16 Billion Euros From Tax [Bloomberg]
This was seven percent more than last year.

Trustee: Flip-flops, app failed to keep accountant’s fraud under wraps [BusinessDen]
File to Accountants Behaving Badly: Terrible Business Instincts edition. A trustee for the bankrupt accounting firm testified that Don Iley, an accountant who stole millions from his clients, invested in two businesses started by a friend to make the money back. One company, Snaportation LLC, developed an app used for reporting and recording crime. The other, Hawaiian Jellys, sold flip-flops. “Iley believed that Hawaiian Jellys would become so financially successful that Iley would receive substantial sums for his work and the support payments that would allow Iley to repay the money he bilked from Iley payroll clients.”

PricewaterhouseCoopers adding 350 new jobs in Tampa Bay [TBO]
They’re looking for assurance and tax people.

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