Comment: Re:Did they break any laws? (Score 1) 709
Indeed, and I'm sure the IRS has the power to audit them if they suspect wrongdoing, much like HMRC will do in the UK. If they are found to be breaking the law, throw ALL the books at them.
What I have a problem with, is what seems to be happening in the US and the UK, where large companies are being summoned to explain their tax activities in front of a congressional/parliamentary committee. This is just plain wrong. By all means prosecute them if they are found to be breaking the law, but these "hearings" are not they way to check the legality of their actions.
It seems to me that the elected representatives are making a big fuss to try and shame these companies into paying more tax, and and at the same time, make the electorate think that something is being done. What they should do instead, if they feel the current system is not working is: fix the broken tax laws.