To Democratic strategists, including those close to the president, the tax plan is finely calibrated to earn the most support, drawing extra revenue from the least sympathetic segments of the…
Biden said at least 55 of the largest U.S. companies paid no federal corporate income taxes in their most recent fiscal year. “It’s just not fair. It’s not fair to…
A new study reports that at least 55 of the biggest corporations paid a goose egg in U.S. income taxes last year — zero, nada — despite hauling in billions in profits.…
Fifty-five corporations saw zero federal tax liability in 2020, according to a report this week by the Institute on Taxation and Economic Policy, a left-leaning think tank. The amount of…
According to a recent report by the Institute on Taxation and Economic Policy, at least 55 of America’s biggest companies paid nothing in federal taxes for 2020, despite earning a…
The president blasted companies paying little or no federal taxes, without naming them. He cited a recent report from the left-leaning Institute on Taxation and Economic Policy that found that…
The provisions — part of the administration’s plan to finance a $2.25 trillion infrastructure package — mean that tech and pharmaceutical companies could lose many of the tax-planning tools that…
Media contact Twenty-six of the 55 companies paid nothing over three years In 2020, a year marked by a pandemic, small business closures and widespread job loss for ordinary people,…
The Institute on Taxation and Economic Policy, which has long criticized American businesses for managing to avoid paying what they owe, conducted a study of Fortune 500 companies that were…
A 2019 study by the Institute on Taxation and Economic Policy found that at least 60 of the largest publicly held U.S. corporations paid no federal income taxes in 2018.…
Moreover, a study by the Institute on Taxation and Economic Policy of the effects of the 2017 tax cuts found that 379 companies with combined profits of nearly $766 billion…
Some tax experts, however, estimate that the benefits of restoring the deduction would go to the richest Americans: “House Democrats included a provision suspending the cap for 2020 as part…
Following is a statement by Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, regarding the corporate tax provisions in the “American Jobs Plan,” released by…
New York would be the 16th state, plus the District of Columbia, to fully legalize marijuana after decades of imprisoning people who participated in the cannabis black market. About one…
Zoom hauled in some $660 million in pre-tax profits in 2020, compared to $16 million in profits in 2019, according to the Institute on Taxation and Economic Policy. “Corporations that…
Biden loves this statistic, but he usually is careful to say “federal taxes.” Simply saying “taxes” makes it wrong, because no matter what the federal tax liability, these companies certainly…
This is because individual income taxes are the only major tax in which the state’s highest-income earners pay a larger percentage of their income in taxes than the state’s lower-income…
The Biden administration has made clear that its top priorities include a major recovery package with critical investments to boost the nation’s economy and tax increases for corporations and the…
An important new book from Professor Dorothy Brown at Emory University offers a timely look at the federal tax code through the lens of racial equity. The Whiteness of Wealth:…
Some 280 million people will be eligible for the third round of stimulus checks, according to the Institute on Taxation and Economic Policy, and unlike previous direct payments, all dependents —…
The Institute on Taxation and Economic Policy has just estimated that the bottom 60% of Americans by income would receive an increase in their incomes of 11% on average, and…
These tax changes, along with another round of cash payments, will boost incomes of the bottom 20 percent of Americans by 33 percent, according to Steve Wamhoff, a tax expert…
According to Institute on Taxation and Economic Policy, the changes would benefit around 83 million children and significantly reduce child poverty in the U.S. Read more
Some 17 million fewer Americans will get stimulus checks this time because of the new income thresholds, according to an estimate from the Institute on Taxation and Economic Policy. Read…
As with previous rounds, Americans who earn more than the threshold line will still receive a partial check. But the money will phase out faster than previous rounds, cutting off…
