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The IRS collected $3.4 billion from GlaxoSmithKline for allegedly cheating on its taxes. The government contended transfer pricing that this evaded taxes by making several inter company transactions to foreign affiliates regarding two of their patents and trademarks on popular drugs it owns. That is known as offshore tax fraud.

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If you claim 5 personal exemptions, your taxable income is reduced another $15 thousand to $23,500. Your earnings tax bill is huge approximately 3,000 dollars.

This offers us a combined total of $110,901, our itemized deductions of $19,349 and exemptions of $14,600 stay the same, giving us a complete taxable income of $76,952.

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