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Corporate tax scam watch: The 'inversion' craze
Corporate tax scam watch: The 'inversion' craze

Apple's done it. Herbalife has done it. Pfizer wanted to do it. What could be wrong with a corporate maneuver eyed by these fine, upstanding American corporations--and nearly 50 others in the last decade? The subject is "inversions," the catch-all name for corporate restructurings to make an American company appear to be a foreign firm for tax purposes. A recent report by the Congressional Research Service identified 47 inversions undertaken in just the last decade, involving firms in the pharmaceutical, financial services and manufacturing industries, among others.  The report was released this week by Rep. Sander Levin, D-Mich., who has introduced a bill to clamp...