ACCOUNTING FRAUD TAX
April 1st, 2003
BY KEITH NUTHALL AND PHILIP FINE
AMERICAN companies that commit accounting fraud are willing to pay millions of dollars in additional income taxes on phony earnings to continue their charade, according to a University of Michigan Business School researcher.
In a new study that examines the negative tax consequences of allegedly fraudulent earnings overstatements, Michelle Hanlon of the university's business school and colleagues Merle Erickson of the University of Chicago and Edward Maydew of the University of North Carolina found that, on average, firms ...
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