Well, is the U.S. tax system competitive? Many global companies say it isn’t. In his recent Senate testimony, Apple CEO Tim Cook distanced Apple from tax gimmicks, but the Senate Permanent Investigation Subcommittee report on Apple paints a grim picture. Many companies are even more aggressive and say our tax system is at fault.
Individuals complain too. U.S. citizens and permanent residents must report their worldwide income. Of late, that rule has landed many in hot water. American living abroad and dual citizens are hit especially hard.
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