Apple has been under fire for its tax practices. The company recently avoided paying as much as $9.2 billion in taxes by buying back stock with debt instead of offshore cash, Bloomberg reported. Apple has a reported $100 billion in offshore funds.
The hearing is part of the panel's continued examination of how companies shift profits offshore and how that impacts the tax code. Representatives from Microsoft and Hewlett-Packard testified in September 2012 in a hearing on the same topic.
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