Hisfindings, which usetaxdatatotrackgraduates over time, cover the years before the U.s. plunged into arecession that dampedjobprospects in many U. s. industriesanduniversities.
The tax collection case dates back to the 1990s when the IRS vetoed Monex's use of a tax shelter involving London Metal Exchange straddle transactions.
So U.S. companies doing business in Japan were stuck paying excess tax(tax in excess of the U.S. rate) unless they were able to use the extra foreign tax to offset U.S. tax on other foreign income.