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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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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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