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(USGovernment-News.Com, July 12, 2013 ) Fort Lauderdale, FL -- Two different technology companies, BMC Software and Analog Devices are in separate lawsuits with IRS about the amount of taxes they owe from a Bush-era tax holiday that allowed the companies to lower their repatriation rate by almost 30% percent.
During George W. Bush’s presidency, he and his administration tried to strengthen the economy by lowering the repatriation rate nearly six times lower than the current rate, but later studies found that it didn’t help capital investment or the nation's employment, making it look like the agenda for those companies was to evade paying high dollar taxes.
Some lawmakers in Congress have began worrying about the overreaching power of the Internal Revenue Service, since the recent scandals over the targeting of conservative groups and Apple, Inc. tax problems.
According to Cym Lowell, a lawyer for McDermott Will & Emery can’t believe the IRS’s aggression on the BMC Software and Analog Devices case. Lowell believes the taxpayer should win the case, because it was only taking advantage of a legal tax system.
Both Republican and Democratic senators say tax reform is needed to lessen the fear from the IRS, who seems to be taking more power each year.
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