It’s difficult to quantify just how much money goes uncollected each year, officials say. Corporate tax collections in the U.S. are “at historic lows and well below what other countries…
The politics of SALT are tricky. While the SALT deduction benefits a wide swath of taxpayers across many states, the biggest beneficiaries tend to be wealthy people with big homes…
A study by the Institute on Taxation and Economic Policy for Policy Matters estimates that those making between $40,000 and $61,000 a year would on average see a $7 reduction…
About 83 million children live in households that would benefit from the expansion of the child tax credit, according to a study from the Institute on Taxation and Economic Policy. In addition,…
An analysis by the Institute on Taxation and Economic Policy, a progressive think tank, finds that Duke and other large companies used lower tax rates and tax incentives to eliminate…
There are also restrictions to who you can claim under the expanded child tax credit. In order to claim your child or children, you must: Have a valid Social Security…
Biden has repeatedly lamented that corporations do not pay their fair share of taxes, using legal loopholes to avoid taxes. A report earlier this month by the Institute on Taxation…
FedEx and Nike were mentioned in an April report by the Institute on Taxation and Economic Policy as companies that recently paid little-to-no federal corporate income taxes. “The delivery giant FedEx zeroed…
In addition, most of the families that would benefit from doing away with the SALT cap would be wealthy white ones, according to a recent analysis from the left-leaning Institute on…
he Institute on Taxation and Economic Policy believes that households accounting for 83 million children would benefit to some degree. Anywhere from eight to 12 million children live in households…
Potency taxes have an upside for states: more stable revenue than sales taxes, says Carl Davis of the Institute on Taxation and Economic Policy, a progressive think tank. That’s because…
More than 60 percent of U.S. multinationals’ reported foreign income is booked in seven small countries that promise to only nibble at corporate profits, about twice the share as in…
American companies and companies that make money in the United States are not paying enough money in taxes. Even as profits have soared, tax payments have declined. Fifty-five of the…
A report released earlier this month from the progressive Institute on Taxation and Economic Policy found that at least 55 of America’s top companies, including FedEx and Nike, paid no…
A report by the Institute on Taxation and Economic Policy says FedEx “zeroed out its federal income tax on $1.2 billion of U.S. pretax income in 2020 and received a…
55. That’s how many major U.S. companies—all part of either the Fortune 500 or the S&P 500 index—that paid no corporate income tax in 2020 thanks to credits and deductions,…
There’s no question that the tax code is extremely generous to big business. A recent report from the Institute on Taxation and Economic Policy found that despite being profitable last…
According to a report released Thursday by the left-leaning Institute on Taxation and Economic Policy (ITEP), the personal income tax increases in Biden’s campaign plan would impact only 1.9 percent…
State residents earning more than $992,800, California’s wealthiest 1%, could see an average savings of $98,650 in 2022, according to data from the Institute on Taxation and Economic Policy, a…
As ammunition, Democrats are pointing to a recent report from the Institute on Taxation and Economic Policy, a progressive think tank, which found that 55 of the nation’s largest corporations…
Amazon (AMZN) isn’t doing anything illegal or improper — or unusual. Few corporations pay 21% of their reported pre-tax earnings in corporate income tax. That’s because there are many ways…
Many large 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,…
Since the mid-20th century, however, politicians of both political parties have supported cuts in the corporate-tax rate, often under intense lobbying from corporate America. The cuts have been so large…
Biden campaigned on not raising taxes on anyone making less than $400,000, which would severely limit Democrats’ ability to fund the infrastructure plan should the GOP and lobbyists convince Congress…
Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, agrees. “The low cost of borrowing and the pressing spending needs we face right now make deficit…
