Anyone know what's going on with Caterpillar?

[Reb]

http://www.latimes.com/business/ct-law-enforcement-search-caterpillar-0303-biz-20170302-story.html

http://www.cbsnews.com/news/federal-agents-raid-caterpillar-offices/

[Serk]

Sharon Paul of the U.S. Attorney's Office says the agencies involved in the raids Thursday are: the IRS's criminal investigation unit; the U.S. Department of Commerce Office of Export Enforcement; and the Federal Deposit Insurance Corp.'s office of inspector general.

Sounds like tax evasion and/or import/export issues?

Not sure beyond that...

http://www.houstonchronicle.com/news/crime/article/The-Latest-Feds-raid-Caterpillar-offices-in-10972280.php

[Rams]

Most likely because they threatened to move away from Chicago...............

Corruption runs deep...........   Obama's home town?

Just kidding gents, don't get your panties in a wad...............   

[f6john]

Somebody probably dialed the wrong number and got the Kremlin.

[Robert]

A 2014 Senate subcommittee report found the heavy equipment company had "shifted billions of dollars in profits" to Switzerland. A spokeswoman for the U.S. Attorney's Office told Crain's the raid is being conducted by the Internal Revenue Service criminal investigations unit, the inspector general's office for the Federal Deposit Insurance Corp. and the Department of Commerce's Bureau of Industry and Security Office of Export Enforcement.

Three years ago, Caterpillar company reps were called to testify before a U.S. Senate subcommittee about a tax strategy that shifted profits to Switzerland, according to Crain's. The subcommittee's findings (below) stated that Caterpillar "shifted billions of dollars in profits away from the United States and into Switzerland, where Caterpillar had negotiated an effective corporate tax rate of 4 percent to 6 percent."

http://patch.com/illinois/chicago/feds-raid-caterpillar-offices

Construction machinery giant Caterpillar avoided $2.4 billion in U.S. taxes by negotiating a corporate deal with Switzerland and shifting profits to a wholly owned Swiss subsidiary, according to a Senate report issued Monday.
http://www.usatoday.com/story/money/business/2014/03/31/caterpillar-senate-offshore-tax-strategy/7114837/

[wiggydotcom]

A 2014 Senate subcommittee report found the heavy equipment company had "shifted billions of dollars in profits" to Switzerland. A spokeswoman for the U.S. Attorney's Office told Crain's the raid is being conducted by the Internal Revenue Service criminal investigations unit, the inspector general's office for the Federal Deposit Insurance Corp. and the Department of Commerce's Bureau of Industry and Security Office of Export Enforcement.

Three years ago, Caterpillar company reps were called to testify before a U.S. Senate subcommittee about a tax strategy that shifted profits to Switzerland, according to Crain's. The subcommittee's findings (below) stated that Caterpillar "shifted billions of dollars in profits away from the United States and into Switzerland, where Caterpillar had negotiated an effective corporate tax rate of 4 percent to 6 percent."

http://patch.com/illinois/chicago/feds-raid-caterpillar-offices

Construction machinery giant Caterpillar avoided $2.4 billion in U.S. taxes by negotiating a corporate deal with Switzerland and shifting profits to a wholly owned Swiss subsidiary, according to a Senate report issued Monday.
http://www.usatoday.com/story/money/business/2014/03/31/caterpillar-senate-offshore-tax-strategy/7114837/

All I know is they haven't shifted many of their profits to their workers, ME. Cat used to be a good company to work for. I've probably got two more years before I retire. We are working on a day to day extension of our contract. It expired March 1st at Midnight.
I'll have 43 yrs in this August so it wouldnt be condusive to go somewhere else and start over with vacation time, night shifts, etc.
For the record, the news of the raid surprised us workers today also. Sounds like it was done with speed and precision....to catch the accountants and number crunchers off guard. Nothing wrong with that.

[Reb]

A 2014 Senate subcommittee report found the heavy equipment company had "shifted billions of dollars in profits" to Switzerland. A spokeswoman for the U.S. Attorney's Office told Crain's the raid is being conducted by the Internal Revenue Service criminal investigations unit, the inspector general's office for the Federal Deposit Insurance Corp. and the Department of Commerce's Bureau of Industry and Security Office of Export Enforcement.

Three years ago, Caterpillar company reps were called to testify before a U.S. Senate subcommittee about a tax strategy that shifted profits to Switzerland, according to Crain's. The subcommittee's findings (below) stated that Caterpillar "shifted billions of dollars in profits away from the United States and into Switzerland, where Caterpillar had negotiated an effective corporate tax rate of 4 percent to 6 percent."

http://patch.com/illinois/chicago/feds-raid-caterpillar-offices

Construction machinery giant Caterpillar avoided $2.4 billion in U.S. taxes by negotiating a corporate deal with Switzerland and shifting profits to a wholly owned Swiss subsidiary, according to a Senate report issued Monday.
http://www.usatoday.com/story/money/business/2014/03/31/caterpillar-senate-offshore-tax-strategy/7114837/

All I know is they haven't shifted many of their profits to their workers, ME. Cat used to be a good company to work for. I've probably got two more years before I retire. We are working on a day to day extension of our contract. It expired March 1st at Midnight.
I'll have 43 yrs in this August so it wouldnt be condusive to go somewhere else and start over with vacation time, night shifts, etc.
For the record, the news of the raid surprised us workers today also. Sounds like it was done with speed and precision....to catch the accountants and number crunchers off guard. Nothing wrong with that.

If for some strange reason something doesn't work out you are always welcome on the Green side!

[Gavin_Sons]

Reb, good thing you went green instead of yellow 

[wiggydotcom]

A 2014 Senate subcommittee report found the heavy equipment company had "shifted billions of dollars in profits" to Switzerland. A spokeswoman for the U.S. Attorney's Office told Crain's the raid is being conducted by the Internal Revenue Service criminal investigations unit, the inspector general's office for the Federal Deposit Insurance Corp. and the Department of Commerce's Bureau of Industry and Security Office of Export Enforcement.

Three years ago, Caterpillar company reps were called to testify before a U.S. Senate subcommittee about a tax strategy that shifted profits to Switzerland, according to Crain's. The subcommittee's findings (below) stated that Caterpillar "shifted billions of dollars in profits away from the United States and into Switzerland, where Caterpillar had negotiated an effective corporate tax rate of 4 percent to 6 percent."

http://patch.com/illinois/chicago/feds-raid-caterpillar-offices

Construction machinery giant Caterpillar avoided $2.4 billion in U.S. taxes by negotiating a corporate deal with Switzerland and shifting profits to a wholly owned Swiss subsidiary, according to a Senate report issued Monday.
http://www.usatoday.com/story/money/business/2014/03/31/caterpillar-senate-offshore-tax-strategy/7114837/

All I know is they haven't shifted many of their profits to their workers, ME. Cat used to be a good company to work for. I've probably got two more years before I retire. We are working on a day to day extension of our contract. It expired March 1st at Midnight.
I'll have 43 yrs in this August so it wouldnt be condusive to go somewhere else and start over with vacation time, night shifts, etc.
For the record, the news of the raid surprised us workers today also. Sounds like it was done with speed and precision....to catch the accountants and number crunchers off guard. Nothing wrong with that.

If for some strange reason something doesn't work out you are always welcome on the Green side!

Thanks, Reb...appreciate that. We're working on getting the whole family onboard to be out of God forsaken Illinois within 2 yrs. The son in laws are both on board and the daughters will willingly follow as long as momma comes along. Not sure about our son but we'll be lookin in the Tennessee, South Carolina, Alabama and Georgia areas with Tenn and SC as the favorites thus far. Didn't mean to hijack the thread.

[cookiedough]

god forsaken IL  seems about right?  Best to head south vs. north as you intend...  More riding season, warmer temps, and more hills than flat land IL.

My kids in next few years going to be moving on out,  have already told us they are moving to a warmer climate if they opportunity arises.  We must have done a poor job exposing them to WI winters becoming too soft?   ???

[RDAbull]

March 15th is tax filing deadline for corporation.
Aril 15th is tax filing deadline for individuals.

If the IRS gets in the news with this kind of crap, people will file faster and more accurately.
Coincidence?   I think not.
They could have gotten the same information by asking for it.  To not reply to a request for information or to hide it, or report false information means somebody goes to jail, no executive is going to risk that to save company's money.

But that is just the CPA in me.