FIU study reveals false pricing caused $2.3T in US tax loss

MIAMI (AP) — A new Florida International University professor's study has found that corporate tax evasion and money laundering cost the U.S. some $2.3 trillion in lost taxes.

The just-released study of federal customs data by FIU business professor John Zdanowicz indicates U.S. companies used false invoices to hide the true value of imported and exported goods from 2003 to 2014.