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IRS Is Suing Facebook Over Asset Transfers In Ireland (fortune.com) 97

An anonymous reader quotes a report from Fortune: The Internal Revenue Service (IRS) has sued Facebook on Wednesday to force it to comply with summonses related to a 2010 asset transfer. Fortune reports: "According to documents the IRS filed in San Francisco federal court, the agency suspects Facebook and its accounting firm, Ernst and Young, understated the value of intangible assets transferred to Ireland by billions of dollars. The IRS says it is seeking an order to enforce six summonses that asked Facebook to appear at the agency's offices in San Jose, Calif., and to produce papers and others records. According to IRS agent Nina Stone, Facebook failed to show up at the appointed date of June 17, and nor did it provide the documents. The dispute arose as a result of an ongoing audit of Facebook by IRS that stretches back to 2010. In that year, the company chose to designate Facebook Ireland as the rights-holder for its worldwide business outside of the U.S. and Canada, and also to transfer intellectual property assets such as its platform and 'marketing intangibles.' The crux of the disagreement between Facebook and the IRS turns on the arcane question of whether the assets in question could be transferred in their entirety or if, as the agency argues, they are 'interdependent.' [The agent's declaration can be found here.] Such arrangements are common among U.S. tech companies, and seek to reduce tax payments by scoring revenue in low tax jurisdictions like Ireland, while having higher tax countries (especially the U.S.) reduce profits by paying to license intellectual property from overseas subsidiaries."

Comment Re:Typical conservative machinations (Score 1) 84

What's the problem with just watching the good shows? I mean, if you decide to consume everything, then there's no form of expression that worthwhile. Do you realize the utter garbage that is published every year, the hundreds of thousands of hours of unlistenable music, or wasted pieces of canvas. The only difference between those and television, is that you have access to the vast majority of TV being made in your market. The fact that there are good show, and that they can be so good, means that television is something worth paying attention to.

Submission + - Arrested Nigerian Email Scammer facing 30-years in Prison (dallasnews.com)

McGruber writes: Amechi Colvis Amuegbunam, 28, a Nigerian man living in the U.S. on a student visa, faces federal wire fraud charges in connection with a sophisticated email phishing scam targeting businesses. He was arrested in Baltimore and charged with scamming 17 North Texas companies out of more than $600,000 using the technique. If convicted, Amuegbunam faces up to 30 years in prison and a fine of up to $1 million.

Comment Re:Honest suggestions from new'ish parent (Score 1) 170

This is a massive oversimplification. Preschool does a lot more than let parents go back to work, it teaches kids to interact with adults and children they're not related to. It gives them a chance to fight for their wants and needs, to get people to pay attention to them, all this stuff that's useful later in life. Good day care and pre-school are well worth it.

Comment Glad this is happening, shame it took so long (Score 4, Insightful) 96

I'm glad this is happening, and it's shame it took so long - or was ever introduced, really. Stuff like this hurts the public's perception of science. Everybody knew this was bullshit.

There are about 28,000 flights in Europe every day of the year and about 1.2 cell phones for every European. I doubt I've been on a plane in the past 5 years where every passenger over the age of 15 didn't have a phone. I like to think that I'm pretty good about turning my phone off (to airplane mode at least), but I've still managed to forget once during the ~30 flights I've been on in the past 4-5 years. Extrapolate that out, and it's obvious that if a phone could affect a flight, we'd be seeing cases every day. Terrorists would sneak phones onto planes to take them down.

Your average Joe sees "science" being used to support limits on cell phones, they know they're bullshit, so the next time they hear another "science-based" bit of info that goes against their comfort, they'll just ignore it too. Why would they bother, "science" is just BS anyway.

Comment Re:Tuning it out? (Score 1) 254

There is literally one metric that counts with advertising, no matter what agencies, media houses or publishers tell you - sales. Everything else is BS. If your advertising does not increase sales (be it by increasing brand awareness, engagement, education, market segment creation, etc), you're just throwing money away.

Comment Re:the Putin stage (Score 1) 294

I'd personally much rather have a single credit rating database, run by an accountable government body with clear rules and regulations concerning who has access to my data and how, along with a clear-cut procedures for updating and correcting the data, than the status quo: three private, opaque, for-profit organizations that are not accountable to any public entity.

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