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A U.S. tech company identified only by the pseudonym “Delta” generated as much as 55 percent of its revenue domestically while reporting to shareholders that only 10 percent of its pretax income came from U.S. operations, according to a report presented to the House Ways and Means Committee. By attributing more earnings to countries with lower tax …

Tax ‘Shenanigans’ Turn U.S. Sales to Foreign Income With Billions Offshore Read More »

Nearly two years after a financial crisis triggered the worst recession since the Great Depression, the Senate approved bold and controversial legislation aimed at preventing a repeat and set the stage for a showdown over the issue in this fall’s midterm elections. The 60-39 vote Thursday was a major victory for President Barack Obama and …

Congress passes major financial reform bill Read More »

The Austin-based American YouthWorks organization has won a $400,000 federal grant, bringing its total in recent months to $1.1 million received, according to an announcement Wednesday from U.S. Rep. Lloyd Doggett, D-Austin.