HAMILTON, Bermuda, June 24 — While Washington lawmakers are cracking down on traditional offshore corporate maneuvers to avoid taxes, another strain has sprouted that could be costing Uncle Sam billions: Companies are stashing their intellectual property abroad to shelter income from overseas sales.
The transfer of intellectual property — such as trademarks and patents — has become so widespread that it has prompted an aggressive crackdown by the Internal Revenue Service on alleged abuses that one IRS consultant says could eventually involve tax claims in the tens of billions of dollars. Computer companies, drug firms and others that derive most of their value from research and ideas find the tactic particularly attractive.