The New York State Society of CPAs has responded to President Obama’s criticism of accountants during a press conference this week.

During a press conference Wednesday, Obama was asked about what steps his administration might take to deal with the wave of corporate tax inversions, in which U.S. multinationals acquire companies in lower-tax countries and change their tax domiciles to lower their tax rates (see Obama Blames Accountants for Inversion Trends).

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