US TAX FRAUD
April 1st, 2003
BY PHILIP FINE
AMERICAN companies that commit accounting fraud are willing to pay millions of dollars in additional income taxes on phoney earnings, according to a University of Michigan Business School study.
The paper examined a sample of firms accused of accounting fraud by the SEC from 1996 to 2002, who had re-filed their accounts after answering such charges, enabling the researchers to compare their fake return with an accurate one. The report said that 15 of the 27 companies sampled actually
paid taxes on overstated earnings, sacrificing 11 cents in ...
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