January 18, 2002

Pinney Allen Appears on CBS Nightly News

The Enron scandal moved into the tax arena when a New York Times front page story identified Enron as not having paid taxes in four out of the prior 5 years. Pinney Allen was interviewed for a Dan Rather report on the story that was aired nationally on the
CBS Nightly News and other of its national news programs.

Pinney was asked to comment on a study of the top 500 US companies and how they avoid paying taxes by relying on certain tax loopholes. She explained that the study fails to acknowledge that the "tax loopholes" are tax allowances in the Code for such items as executive compensation, accelerated depreciation and research and experimentation credits that are provided as appropriate incentives to activity Congress has determined are productive. As Pinney put it "There is nothing heinous going on here."
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