Apple plans to leverage the recently passed tax legislation, said to be the most important in 30 years, by bringing $350 billion back to the United States over the next five years. Of that, $252 billion in cash was held abroad; Apple keeps 94 percent of its total cash outside the U.S. A provision in the new tax code allows a one-time repatriation of corporate cash held in other countries. The move is consistent with Apple’s long-time stance that it wouldn’t bring the cash back until the tax code changed. Continue reading With New Tax Legislation, Apple to Repatriate $252B in Cash

IBM struck a deal with H&R Block to utilize Watson to help the company’s 70,000 tax professionals at 10,000 branch offices file taxes for 11 million customers. The partnership, which was presented in a 60-second Super Bowl ad on Sunday, began last summer when H&R Block chief executive Bill Cobb contacted IBM. His goal was to aid the company’s professionals in increasing tax refunds and reducing tax liabilities for the company’s clients, and make the experience “engaging and interactive.” Continue reading IBM’s Watson Joins with H&R Block for Better Tax Preparation