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Insight: Why Citi wants to rack up U.S. taxes

Raindrops are pictured on a signboard of Citibank at its branch in TokyoBy Dan Wilchins (Reuters) - Over the past few years, Citigroup Inc has been grappling with an unusual problem - how to incur more U.S. taxes. The third-largest U.S. bank tried to buy the foundering Wachovia Corp in the fall of 2008 in part because the deal would have brought it more taxable domestic income, a person familiar with the matter said. ...


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