Mar 8, 2017

Caterpillar criminally evaded billions in taxes, says federal report

Matt Dayhoff/Journal Star

A government-commissioned report, uncovered by the New York Times, says Caterpillar has committed "deliberate" tax fraud, using Swiss and other subsidiaries to illegally shield their income from the IRS.

Last week, federal law enforcement raided Caterpillar facilities in Illinois, which the company said was related to an investigation of its Swiss subsidiary. The firm has said in securities filings that the IRS is seeking more than $2 billion in back taxes, which it is "vigorously contesting."

Why it matters: Washington is largely itching to cut corporate taxes, but, for some, the news won't make Corporate America seem deserving of tax relief.

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Axios

14 mins ago - Politics & Policy

DOJ to treat antifa involvement in protests as domestic terrorism

Barr and Trump. Photo: Doug Mills-Pool/Getty Images

Attorney General Bill Barr said in a statement Sunday that the Justice Department will use its network of 56 regional FBI Joint Terrorism Task Forces to identify the "criminal organizers and instigators" of violence during the George Floyd protests, including antifa and similar groups.

Why it matters: Barr, President Trump and other members of the administration have pinned the blame for riots and looting over the past few days of protests against police brutality on antifa, a loosely defined far-left movement that uses violence and direct-action protest tactics.

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Mike Allen

2 hours ago - Technology

Trump and Zuckerberg share phone call amid social media furor

Photo: Alex Wong/Getty Images

In the week that President Trump took on social media, Axios has learned that he had a call Friday with Facebook CEO Mark Zuckerberg that was described by both sides as productive.

Why it matters: With the White House and Twitter at war, Facebook has managed to keep diplomatic relations with the world's most powerful social-media devotee.

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Sara Fischer

2 hours ago - Economy & Business

Twitter, Google lead chorus of brands backing George Floyd protests

Illustration: Lazaro Gamio/Axios

Twitter and Google are among the dozens of brands over the past 24 hours that have taken public stances in favor of Americans protesting racial equality. Some companies have changed their logos in solidarity with the movement, while others have pledged money in support of efforts to address social injustice.

Why it matters: The pressure that companies feel to speak out on issues has increased during the Trump era, as businesses have sought to fill a trust void left by the government. Now, some of the biggest companies are quickly taking a public stand on the protests, pressuring all other brands to do the same.

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