Verizon CEO Lowell McAdam Amount of federal income taxes paid in - TopicsExpress

Verizon CEO Lowell McAdam Amount of federal income taxes paid in 2010? Zero. $705 million tax refund. In 2010, Verizon received a $705 million refund from the IRS despite earning $11.9 billion in pre-tax U.S. profits. Amount of federal income taxes Verizon would have owed if offshore tax havens were eliminated? $525 million. Verizon has stashed $1.5 billion in offshore tax havens to avoid paying U.S. income taxes. Verizon would owe an estimated $525 million in federal income taxes if its use of offshore tax avoidance was eliminated. American Jobs Cut in 2010? In 2010, Verizon announced 13,000 job cuts, the third highest corporate layoff total that year.

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