Critical Tax Issue Handled by Tax Lawyers

Tax Lawyers specialize in the field of tax law. Tax lawyers or attorneys are experienced lawyers in handling technical and legal issues about tax. Tax lawyers extend help to people who are in trouble with the tax law and bankruptcy cases. Below is the recent news about Mitt Romney tax issue with its tax lawyers feedback:

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Romneys likely gained from complex offshore deals, tax experts say

WASHINGTON — Mitt Romney’s former private equity firm used a half-dozen companies and partnerships in the tax havens of Luxembourg, Ireland and the Grand Caymans four years ago to channel $689 million in loans to a U.S. company that it co-owned.

To the average American, the deal might seem bizarre.

But some tax experts say that the circuitous paper chain likely was structured to avoid certain taxes for passive investors, including blind trusts for the Republican presidential candidate and his wife.

Read more here: http://www.kansas.com/2012/10/02/2512727/romneys-likely-gained-from-complex.html#storylink=cpy

What Mitt Romney got from offshore investments

The New York Times’ Michael Luo and Mike McIntire report that Mitt Romney’s use of offshore accounts in the Cayman Islands have enabled both his individual retirement account and Bain Capital to avoid taxes.

Some of the offshore entities enabled Bain-owned companies to sidestep certain taxes, increasing returns for Mr. Romney and other investors. Others helped Bain attract foreign investors and nonprofit institutions by insulating them from taxes, again augmenting Mr. Romney’s bottom line, since he shared in management fees based on the size of each Bain fund.

Read more: http://www.washingtonpost.com/blogs/election-2012/wp/2012/10/02/what-romney-got-from-offshore-investments/

The Times Gives Some Ground on Romney’s Taxes, Yet Continues to Deceive

I would venture it’s possible that the media have spent as much time during the 2012 presidential campaign discussing the tax returns of one man, Mitt Romney, as they have covering the two candidates’ proposals for the other 300 million Americans’ taxes. Worse, most of this coverage has been highly misleading, playing on the suspicions Americans hold about offshore corporations and Swiss Bank accounts to imply that Romney is using these structures to evade taxes. It’s understandable when the Obama campaign and Think Progress do this;

http://www.nationalreview.com/corner/329087/itimesi-gives-some-ground-romneys-taxes-yet-continues-deceive-patrick-brennan

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