In April, the Senate's Permanent Subcommittee on Investigations released a report that says the company diverted profits from a parts business to a Swiss subsidiary, allowing Cat to avoid paying $2.4 billion in U.S. taxes.
"We believe that the relevant transactions complied with all applicable provisions of the U.S. Internal Revenue Code," the company said in a securities filing.
The IRS will likely make a decision within the next year, the report says.
Caterpillar will testify at a Senate subcommittee hearing Tuesday, arguing against
Utilization audits and lifecycle studies may be common practice among public and private fleet...
After last month’s
Sources say a U.S. Senate panel is investigating whether Caterpillar illegally evaded U.S....