It
is that simple (in the sense of the parent's post): you need to know the specifics of
why they were paying no taxes. If, as in the comment, they were carrying over losses, then there's nothing really objectionable. You lost $10 million last year. You profited $10 million this year. Over a reasonable horizon, you weren't profitable.
Did they get a specific exemption against the public interest that no one else got? Great! Let's talk about that!
Did they deduct 100% of their costs for sham "IP licensing" from a foreign subsidiary? Great! Let's talk about that!
But you need to know the why before you conclude there's something objectionable going on.
Edit: More generally, every headline of this form comes with an implicit statement like "By my model, <company> should be regarded as having a profit of X dollars, but tax law views them as having a taxable profit of Y < X." That necessitates a good explanation of why you think X is the right value.
Did they get a specific exemption against the public interest that no one else got? Great! Let's talk about that!
Did they deduct 100% of their costs for sham "IP licensing" from a foreign subsidiary? Great! Let's talk about that!
But you need to know the why before you conclude there's something objectionable going on.
Edit: More generally, every headline of this form comes with an implicit statement like "By my model, <company> should be regarded as having a profit of X dollars, but tax law views them as having a taxable profit of Y < X." That necessitates a good explanation of why you think X is the right value.