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Why Rock Bands Are Wailing Against Tax Havens

Why Rock Bands Are Wailing Against Tax Havens

Wilco, Coldplay, Radiohead. What do these rock bands have in common? It’s more than just great music, it’s a passion for ending tax havens (sheltering money in a foreign country or independent area where taxes are low). Surprisingly, rock bands have a long and fascinating history when it comes to forging ahead into uncharted tax strategy territories. 

What Triggers a Tax Audit?

What Triggers a Tax Audit?
You may have heard that IRS audits of individuals have hit an 11-year low. This past year, the IRS has been auditing fewer than 1 in 100 individual taxpayers. But don’t allow those statistics to embolden you. Thousands of taxpayers still get audited each year. If you’re a high-earner, with $500,000 to $1 million earned annually, your chances of an audit jump to more than 4 percent. The picture changes again when it comes to business audits. Corporations tend to be audited more often (as much as 12 percent of large corporations).
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