“We saw that many states are using better-than-expected revenue outlooks as an excuse to cut personal and corporate income taxes,” Marco Guzman, state policy analyst at the Institute on Taxation…
One challenge for the IRS is that each company tends to interpret tax laws differently, says Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, a…
In fact, the Institute on Taxation and Economic Policy reports that California’s tax system does the most of any state to alleviate inequality — while taxes in most states serve…
“It’s very likely they’re getting hundreds of millions of dollars a year in R&D tax credits,” said Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy,…
Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, who’s studied the tax habits of Amazon and other big companies, told Politico that Amazon is likely…
In all, the changes proposed by the Biden administration would generate about $88.4 billion in new tax revenue, according to a separate analysis conducted by the Institute on Taxation and Economic…
This means that the state’s wealthiest 5% of taxpayers will receive nearly 60% of the benefits, while the bottom 80% will get only 23%, according to an analysis for Policy…
“It’s a wildly inappropriate use of the Roth IRA, even if it’s legal,” said Steve Wamhoff, the director of federal tax policy at the Institute on Taxation and Economic Policy…
Following is a statement by Amy Hanauer, executive director of ITEP, regarding the bipartisan deal announced today by senators and the White House. “While the bipartisan infrastructure deal announced today…
According to the nonpartisan Institute on Taxation and Economic Policy, 55 of the largest corporations in America — including Archer Daniels Midland, FedEx and Nike — paid no federal income…
“I think it’s a big wake-up call,” said Steve Wamhoff, director of federal tax policy for the Institute on Taxation and Economic Policy in Washington. “It tells us things that…
“Outright repeal of the SALT cap without an adequate replacement would exacerbate racial inequities in this country,” said a study from the Institute on Taxation and Economic Policy’s Carl Davis…
ProPublica’s bombshell report on Tuesday showing that some of the wealthiest Americans routinely pay little or no taxes, a new report from watchdog group Public Citizen today dives into the…
“The whole exposé is really an argument for the Biden proposal to tax unrealized capital gains at death,” said Steve Wamhoff, director of federal tax policy at the left-leaning Institute…
Following is an excerpt of an opEd by Steve Wamhoff published in Fortune: It is no surprise that billionaires pay little in federal taxes relative to their incomes, but the…
In this congressional session, Democrats appear to be placing enormous emphasis on creating a fairer tax code along with investing in infrastructure and social programs, said Steve Wamhoff, director of…
But according to Carl Davis, research director at the Institute on Taxation and Economic Policy, no one is swimming in cash. “A lot of states were just barely trying to…
Many big corporations do. At least 55 large U.S. companies, including Nike Inc. and FedEx Corp., reported paying no U.S. federal income taxes in 2020 even though they were profitable,…
Last year at least 55 major, profitable U.S. corporations paid no U.S. income tax, reports the Institute on Taxation and Economic Policy. Some are famous —Nike, FedEx, Salesforce.com—and all are in the Fortune…
Nations have been grappling with the question of how to deter companies from legally avoiding paying taxes by resorting to tax havens — typically small countries that entice companies with…
Their specific opposition to the corporate tax hike, Matt Gardner, corporate tax expert at the left-leaning Institute on Taxation and Economic Policy, told TPM, is part of their “hidebound refusal…
The growth comes with headaches. Traffic is getting worse and public transportation is limited. The influx of people is driving up housing prices, forcing up the cost of living by…
Instead, Biden put forward a 15% minimum corporate tax as a possible solution, a levy that would be squarely aimed at corporations paying little to no taxes. The president has…
Amazon, like a lot of big companies, is good at keeping its tax bill low. In some recent years, it’s paid zero federal income tax; it’s managed to pay very…
The Republic also reported that an Institute on Taxation and Economic Policy analysis found that 20% of Arizona taxpayers would get 91% of the reductions. The report said the switch…
