Companies would be better off investing in tax-related human capital.
Fewer audits of small- and medium-sized businesses may leave banks less willing to make loans.
A bank's corporate clients are likely to take similar approaches to tax planning.
Could greater transparency force regulators to intervene unnecessarily in healthy banks?
When companies engage in the great American pastime known as tax avoidance, many parse the Internal Revenue Code for loopholes to reduce their effective tax rate. But research suggests they should also scrutinize the quality of their internal reporting.