Prof. Michael Knoll recently spoke to Marketplace about Apple’s tax dodging:
There are lots of ways companies can avoid paying taxes to the IRS on profits. Apple is pretty familiar with those. So the company is going under the microscope today. Why Apple?
“They’re one of the companies with the largest amount of overseas cash given the success of the iPhone,” says Michael Knoll, co-director at the center for Tax Law and Policy at the University of Pennsylvania. Apple has $102 billion in offshore accounts. Experts say the company keeps a growing portion of its profits abroad where tax rates are much lower.