Claris Law Legal Blogging Community

Editor: Debra G. Speyer, Esq.
Profession: Attorney

Category: Interesting News

There were recent discussions between Chairman of the Securities and Exchange and the Commissioner of the IRS to require public companies to make public their Corporate tax returns.

While Corporate watchdogs would like to see tax returns made public, corporations are concerned that if their tax returns were made public, their competitors would learn information about the corporations such as research and development budgets which would not be in the best interest of that corporation.

The conflict in the relationship between tax and corporate earnings is that corporations want to show maximum earnings to shareholders while paying the smallest amount in taxes. Right now, companies financial reports include a line for tax expenses.