Offshore Cash Hoard Expands by $183 Billion at Companies

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The build-up of offshore profits — totaling $1.46 trillion for the 83 companies examined — is increasing because of incentives in the U.S. tax code for booking profits offshore and leaving them there. The stockpiles complicate attempts to overhaul the tax system as lawmakers look for ways to bring the money home and discourage profit shifting.

“The corporate system is broken and it’s broken primarily because of international,” said Edward Kleinbard, a tax law professor at the University of Southern California.

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