Any deviation from more stringent accounting interpretations about the "true intentions" of companies employing offshore tax haven strategies might cross the lines if they are redrawn by SEC Chairman Mary Joe White and Congress.
"I think financial-statement fraud, accounting fraud has always been important to the SEC," White said in an interview in July of last year. "It's certainly an area that I'm interested in and you're going to see more targeted resources in that area going forward."
Not a happy prospect for Apple's shareholders if the SEC and Congress actually even the playing field. This is true as well for other players without Apple's clout. Every company would prefer to keep the taxman from grabbing a share of profits, especially those held offshore.Finally, here's Apple's free cash flow as reported in December 2013. At the time of publication the author had no position in any of the stocks mentioned. This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV