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    Caterpillar

    Anyone know anything about the Fed's raid on their offices in Illinois? I'm in the midst of some business with them and the timing of this is no bueno. News articles don't seem to give any reason for the raid. Obviously will find out in due time but just curious if anyone knows anything.

    #2
    Just heard about this. Don't know why, but i heard they are at three of the cats main offices.

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      #3
      Seems IRS is involved

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        #4
        articles pertaining to the raid seem really vague at this point. One has a comment that states that "employees from tax and accounting departments are sequestered". If this is true, I would imaging catapillar has not been paying taxes properly.

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          #5
          Originally posted by Pedernal View Post
          articles pertaining to the raid seem really vague at this point. One has a comment that states that "employees from tax and accounting departments are sequestered". If this is true, I would imaging catapillar has not been paying taxes properly.
          Saw another piece that mentioned BIS (Bureau of Industry and Security) was involved. This often means selling to the wrong countries and could be worse than an IRS problem.

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            #6
            Wow

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              #7
              The Feds have not said what they are looking for. However CAT has been fighting an IRS demand that they pay something like $2 billion in taxes and penalties for profits assigned to their Swiss parts distribution subsidiary. They have been accused of shifting profits away from the U.S to avoid taxes. CAT has maintained what they have done is within the law. Also a big law firm that sues companies on behalf of stockholders announced today they are doing an investigation concerning possibly misleading statements to the investing public. The stock is getting clobbered.
              Last edited by jerp; 03-02-2017, 01:57 PM.

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                #8
                Originally posted by jerp View Post
                The Feds have not said what they are looking for. However CAT has been fighting an IRS demand that they pay something like $2 billion in taxes and penalties for profits assigned to their Swiss parts distribution subsidiary. They have been accused of shifting profits away from the U.S to avoid taxes. CAT has maintained what they have done is within the law. Also a big law firm that sues companies on behalf of stockholders announced today they are doing an investigation concerning possibly misleading statements to the investing public. The stock is getting clobbered.
                Thanks Jerp. Yeah, I saw the stock price. I'm hoping this is in fact an IRS issue and not a BIS issue. Could be a buying opportunity soon.

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                  #9
                  Hate to see this, hope they get it resolved.

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                    #10
                    Originally posted by bdchorn View Post
                    Saw another piece that mentioned BIS (Bureau of Industry and Security) was involved. This often means selling to the wrong countries and could be worse than an IRS problem.
                    That would be a DEATH nail. Just cant sell some places on this globe boys and girls!!!
                    Originally posted by Tmag View Post
                    Hate to see this, hope they get it resolved.
                    Seems like they have let it get out of hand if RAIDS are taking place..........those don't just get assigned after a few meetings.

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                      #11
                      I read an article pointing towards hiding profits in a Swiss sub to avoid 2.4 Billion in taxes.


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