According to U.S. tax law, any profits earned overseas must be taxed by 35% when returned to the U.S. That's why many companies park their cash on international soil - cash that could be shared with investors. Accounting expert Jack Ciesielski crunched the numbers on the biggest overseas balances.
Did GE pay U.S. income taxes in 2010? The company known for minimizing its tax bill made a muddled situation worse responding to a New York Times report suggesting it might get a refund. GE now says it has a small tax liability for 2010. More