ACC OU N T I NG FOR T H E S H I F T
WKDW DQ\ WD[ GHFLVLRQV FRXOG KDYH IRU D FRPSDQ\·V SXEOLF LPDJH and reputation.” To understand the interconnectivity between tax strategies and public image, one needs only call to mind the cautionary tale of the Panama Papers. This collection of more than 11 million documents purportedly details the misuse of offshore tax havens by current and former non-U.S. heads of state. The alleged abuse of public trust has drawn comments from President Barack Obama who, in an April 5, 2016 press conference, praised the Treasury department for identifying and pursuing U.S. companies that misuse tax loopholes. However, as of this ZULWLQJ QR 8 6 ÀUP has been linked to the Panama Papers investigation. Still, corporate tax breaks could become a talking point among 2016 presidential candidates and, more likely, a focus of the next president as Washington continues to search for ways to boost the U.S. economy.
Corporate tax breaks could become a talking point among 2016 presidential candidates and, more likely, a focus of the next president as Washington continues to search for ways to boost the U.S. economy
18 | THE PAUL MERAGE SCHOOL OF BUSINESS
Terry Shevlin is a professor of Accounting, Paul Merage Chair in Business Growth, associate dean of Research and Doctoral programs at the UC Irvine Paul Merage School of Business. He earned his PhD from Stanford University LQ DQG MRLQHG WKH IDFXOW\ DW WKH 8QLYHUVLW\ of Washington where he worked for 26 years until joining UCI in the summer of 2012. Shevlin has served as editor on three academic journals: Journal of the American Taxation Association 6HQLRU (GLWRU The Accounting Review DQG &R HGLWRU Accounting Horizons DQG RQ QXPHURXV HGLWRULDO ERDUGV LQFOXGLQJ WKH WRS IRXU DFFRXQWLQJ MRXUQDOV +H KDV SXEOLVKHG QHDUO\ DUWLFOHV LQ WKH YHU\ WRS DFFRXQWLQJ DQG ÀQDQFH MRXUQDOV $Q DZDUG ZLQQLQJ UHVHDUFKHU 6KHYOLQ·V LQWHUHVWV DUH EURDG and include the effect of taxes on business decisions and asset prices, capital markets-based accounting research, earnings management, employee stock options, research design and VWDWLVWLFDO VLJQLÀFDQFH WHVWLQJ LVVXHV
