Professor J. Richard Harvey, Jr., a leading expert on offshore tax operations by US multinational corporations, was recently quoted in The New York Times, U.S. News & World Report and National Public Radio about new Treasury Department rules intended to crack down on corporate inversions, in which US companies reincorporate abroad to lower their taxes.
Harvey is the Distinguished Professor of Practice at Villanova University School of Law and its Graduate Tax Program, where he teaches courses including Tax Policy, Corporate Tax Transparency, and Accounting for Lawyers, and Survey of Tax. A former senior IRS and Treasury official with over 35 years of tax experience, Harvey testified in May 2013 before the U.S. Senate Permanent Subcommittee on Investigations on the offshore tax practices of Apple, Inc. and is often called upon by leading media outlets for his expert commentary on international tax issues.
Speaking about the Treasury Department’s efforts to crack down on corporate tax avoidance, Harvey is quoted in U.S. News & World Report, “The game here is US multinationals shift their income overseas and they’d love to find a way to bring it back to the US without tax. When they can no longer do that then they have to start thinking about inversions.” He told The New York Times that the most important part of the Treasury Department’s rules “will strike at the heart of many inversions.”