Apple

On the last page of a nine-page tax plan that calls for slashing business rates, President Donald Trump and congressional Republicans proposed a little-noticed, brand-new tax that may hit companies like Apple Inc. and Pfizer Inc.

Business owners and entrepreneurs are sometimes notoriously closed off to advice from others, including from their own accountant.

The arrangement would hold roughly $17 billion in a fund while the tech company appeals a ruling.

Multinationals are in line for a windfall from President Donald Trump’s call to cut the tax rate on U.S. companies’ stockpiled overseas earnings, but a select few would do better than others.

Apple Inc. Chief Executive Officer Tim Cook said any new, lower federal tax rate on U.S. companies’ overseas earnings should be mandatory for all companies, and proceeds should be spent on upgrading U.S. infrastructure.

This year, tax reform could give U.S. companies access to hundreds of billions of dollars they have stashed overseas. Many corporations can’t wait that long.

Apple Inc. has set up a court battle with European Union competition watchdogs who ordered Ireland to claw back a record 13 billion euros ($13.6 billion) in unpaid taxes.

FreshBooks, an accounting software for self-employed professionals, now offers Apple Pay.