Protesters target corporations’ minimal tax payments at shareholder meetings

April 26, 2012

The 99 percent contingent, or at least an offshoot of the protest group, is back.

This time the anger is directed at major U.S. corporations that the protesters say aren't paying a fair share of taxes.

At the beginning of General Electric's annual shareholder meeting in Detroit on Wednesday, three dozen protesters stood up and chanted "pay your fair share."

The group was referring to reports that GE's tax strategies have allowed the company to zero out its U.S. tax bill and even receive refunds from Uncle Sam.

The group was escorted from the meeting, according to the Detroit News, but continued the demonstration in the lobby of the Marriott hotel where GE was meeting. Additional protesters outside the building stretched into a nearby plaza, said the newspaper.

On Tuesday, a similar protest was mounted at the Wells Fargo shareholders annual meeting in San Francisco.

Police were called to the Merchants Exchange Building in the city's financial district, across from Wells Fargo's headquarters, as about 500 people gathered to protest the bank's lending and foreclosure practices.

The San Francisco Chronicle reported that six protesters chained themselves together to block an entrance to the building. Another five to 10 protesters were inside chanting as police cleared paths for attendees.

Inside the shareholders' meeting hall, Wells Fargo CEO John Stumpf was interrupted less than a minute into his presentation by a person shouting that the bank should pay its fair share of taxes. At least two more more such protests and a disruption by several people at once followed the initial outburst, according to the newspaper.

The San Francisco tax protesters, like their Detroit counterparts, were escorted out by police.

If you own stock in a major American business and plan on attending the annual meeting, consider this fair warning.

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Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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