Reports are that lobbyists for Accenture Ltd. will be successful in convincing congressional tax writers to make small changes in a technical corrections bill that would that ensure the consulting group is grandfathered in under a corporate tax bill originally passed in 2004.
Excepting companies that completed a move before March 4, 2003, provisions in last year's $145 billion corporate tax bill denied tax breaks for companies that moved to low taxation Bermuda and other tax haven countries. Although spokespeople for Accenture have refused to comment on the matter, sources have said that because of the way the company's Bermuda incorporation was formalized, the Internal Revenue Service may have an argument that the U.S. government is owed taxes.
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