Apple Lobbies for Tax Breaks for Manufacturing More Chips in United States

Apple is seeking tax breaks from the U.S. government for domestic chip production, which suggests Apple may be aiming to move more iPhone manufacturing to the United States.


According to Bloomberg, second and third-quarter lobbying disclosure reports indicate that Apple lobbied officials from the Treasury Department, Congress, and the White House on tax issues that included “tax credits for domestic semiconductor production.”

Apple designs many of its own chips, including the A-series chips used in iPhones and iPads and the Apple Silicon chips that will be used in future Macs. Development of chips is done in-house in Cupertino, but production is outsourced to Taiwan Semiconductor Manufacturing Company (TSMC).

Apple’s lobbying efforts indicate that it perhaps wants to move production to the U.S., where it would not have to deal with tariffs and trade tensions between the United States and China.

Apple’s recent lobbying coincides with a push by the

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Software CEO charged in record-breaking $2B tax evasion case

Reynolds and Reynolds CEO Robert Brockman has been charged in a $2 billion tax evasion case, according to law enforcement officials, the largest charge in the United States.



a man smiling for the camera


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According to a grand jury indictment filed on Oct. 1 in the U.S. District Court for the Northern District of California, Brockman, 79, was charged with 39 different counts of fraud, money laundering, evidence tampering, and other related charges.

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Brockman, who resides in Houston and Pitkin County, Colorado, pleaded not guilty to the charges during a Friday court appearance, according to CNN. He was released on $1 million bail.

Brockman became the CEO of the software company Reynolds and Reynolds after it absorbed Universal Computer Systems, the company he founded in 1970.

Over the last 20 years, Brockman “created a complex network of offshore companies and trusts, and appointed nominees to manage these entities for

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DOJ Charges Texas Billionaire in $2 Billion Tax Fraud Scheme

SAN FRANCISCO (AP) — Federal prosecutors charged Texas billionaire Robert Brockman on Thursday with a $2 billion tax fraud scheme in what they say is the largest such case against an American.

Department of Justice officials said at a news conference that Brockman, 79, hid capital gains income over 20 years through a web of offshore entities in Bermuda and Nevis and secret bank accounts in Bermuda and Switzerland. Prosecutors announced that the CEO of a private equity firm that aided in the schemes would cooperate with the investigation.

The 39-count indictment unsealed Thursday charges Brockman, the chief executive officer of Ohio-based software company Reynolds and Reynolds Co., with tax evasion, wire fraud, money laundering, and other offenses.

Prosecutors also announced that Robert F. Smith, founder and chairman of Vista Equity Partners, will cooperate in the investigation and pay $139 million to settle his own tax probe. Smith, 57, stunned

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Software CEO Robert Brockman charged in $2 billion tax evasion case

Texas tech mogul Robert T. Brockman has been charged in a $2 billion tax evasion case, the largest ever tax charge in the United States, law enforcement officials said.



a close up of a man smiling for the camera: Robert Brockman attends a celebration for the Rice University groundbreaking of James Turrell's Rice University Skyspace project on Tuesday, May 17, 2011, in Houston, Texas. Federal prosecutors have charged Texas billionaire Robert Brockman in a $2 billion tax fraud scheme that they say is the largest such case against an American.


© Dave Rossman/AP
Robert Brockman attends a celebration for the Rice University groundbreaking of James Turrell’s Rice University Skyspace project on Tuesday, May 17, 2011, in Houston, Texas. Federal prosecutors have charged Texas billionaire Robert Brockman in a $2 billion tax fraud scheme that they say is the largest such case against an American.

A federal grand jury returned an indictment alleging that Brockman, the CEO of software company Reynolds & Reynolds, engaged in tax evasion, wire fraud, money laundering and other crimes as part of a nearly 20-year scheme to conceal around $2 billion in income from the Internal Revenue Service and defraud investors in his software firm’s debt securities, federal authorities said in a release.

The 39-count indictment

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Texas billionaire charged in $2-billion tax fraud scheme

Federal prosecutors have charged Texas software tycoon Robert Brockman in a $2-billion tax fraud scheme that they say is the largest such case against an American.

Department of Justice officials said Thursday that Brockman, 79, hid capital-gains income over 20 years through a web of offshore entities in Bermuda and Nevis and secret bank accounts in Bermuda and Switzerland. Prosecutors said that the CEO of a private-equity firm that aided in the schemes would cooperate with the investigation.

The 39-count indictment unsealed Thursday charges Brockman, the CEO of Ohio-based software company Reynolds and Reynolds, with tax evasion, wire fraud, money-laundering and other offenses.

Prosecutors also announced that Robert F. Smith, founder and chairman of Vista Equity Partners, would cooperate in the investigation and pay $139 million to settle his own tax probe. Smith, 57, stunned a senior class last year when he promised to wipe out the student-loan debt of

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Billionaire CEO of software company indicted for alleged $2 billion tax evasion schemes

The billionaire chief executive of Ohio-based Reynolds and Reynolds Co, Robert Brockman, has been indicted on charges of tax evasion and wire fraud conducted over “decades.”

The scheme, in which roughly $2 billion was hidden away in offshore accounts and through money laundering, took place between 1999 and 2019, the US Department of Justice (DoJ) said on Thursday. 

See also: DoJ charges four brothers for defrauding Amazon in overshipping scheme

According to the indictment (.PDF), the resident of both Houston, Texas, and Pitkin County, Colorado allegedly used a “web” of offshore organizations in Bermuda and Nevis to hide the profits he made from investments in private equity funds. 

Brockman squirreled away his capital gains and also tampered with the evidence of his alleged activities, prosecutors say, by methods including backdating records and using “encrypted communications and code words” to communicate with co-conspirators, including the phrases “Permit,” “King,” and “Redfish.”

A

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Benefits of Tax Software

Tax software is designed to enable you to cheaply and easily prepare and file your tax returns. You are able to use a highly rated and proven program to file your business and personal taxes yourself without having to contract the services of an accountant or other tax expert. Go for an online tax software yearly update or edition which will enable you to receive automatic updates, as well as enjoy unfettered online access to your taxes. Below are some of the benefits of using tax software.

  • Maximize Your Tax Deductions – Updated tax software programs enable you to avoid missing out on all the latest deductions, thus reducing what you owe and earning you a larger refund. This way, you get to keep up with all changes in state and federal taxation laws, and avoid owing taxes that arise from these changes.
  • File Returns from Your Computer – Tax
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Retail Tax Franchises or Online Tax Software?

For tax preparation and filing, there are so many options to choose from now that sometimes you just don’t know where to begin. Once upon a time, H&R Block and the other retail franchises dominated the tax prep market. But with the wide acceptance of the internet and online tax software, more people are making the choice to prepare and file their returns themselves. Add to these options the free online tools available through the IRS website and you truly have a boatload of choices for filing your taxes. But, how do you choose the right choice? Glad you asked.

Retail Tax Franchises

We as humans are creatures of habit and once we find a routine we like, then it’s pretty hard to convince us to do anything else. Kind of like your favorite fast food place. Retail tax franchises like H&R Block, Liberty Tax, and Jackson Hewitt all enjoy … Read More