Business Groups Sue Over U.S. Government Crackdown on Corporate Inversions
Two business groups have sued the Obama administration over the government’s crackdown on U.S. companies moving abroad to reduce their tax burden. The process is known as a corporate inversion. Also called a tax inversion, a corporate inversion is the practice of a corporation relocating its legal domicile to a nation with lower taxes like Ireland, Britain, and Canada while retaining its material operations in its higher-tax country of origin. To continue reading this article, click here.