FORTUNE — If the subcommittee report is any indication, Tim Cook and his colleagues will face tough questions Tuesday from Sens. Carl Levin (Dem.) and John McCain’s (Rep.) Permanent Subcommittee on Investigations.
The report charges that Apple (AAPL) avoided paying roughly $10 billion in U.S. taxes a year by funneling foreign income through a series of Irish shell companies
Apple says it probably pays more Federal taxes than any other U.S. corporation, and that its use of Irish subsidiaries — regularly scrutinized by the IRS — is sanctioned by tax laws passed by Congress.
C-Span.org covered the hearings from the star (Flash required, go figure; NBC’s link is iOS friendly). C-Span TV started somewhat later and broke for a Senate vote in the middle of Apple’s testimony.
The cable TV business news channels will probably dip in to catch Tim Cook’s testimony later in the morning.
See also:
- Apple vs. Subcommittee: Tim Cook has some explaining to do
- Meet AOI, Apple’s mysterious Irish subsidiary
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