whiten-jon – Page 40

news release February 10, 2020
“Budget for America’s Future” Cuts Funding for Essentials

The budget proposal reinforces the Trump Administration’s commitment to maintaining trillions in tax cuts for the rich and corporations, even if it requires cutting support for food assistance, cutting funding support for education, harming our environment or taking away health care from millions of Americans.
media mention February 10, 2020
Maine Beacon: Report: Maine losing $52 million annually to corporations using offshore tax havens

The amount of money U.S. companies move through tax havens is considerable. Fortune 500 companies made $2.6 trillion in offshore profits in 2016, according to the Institute on Taxation and…
media mention February 7, 2020
Politifact: Fact-checking the Democratic claim that Amazon doesn’t pay taxes

Short answer: Amazon’s tax returns are private, so we don’t know for sure what Amazon pays in federal taxes. But Amazon’s estimates on its annual 10-K filings with the U.S.…
media mention February 7, 2020
CBSNews.com: Amazon paid a tax rate of just 1.2% last year, versus 14% for average Americans

Amazon isn’t alone, of course. Hundreds of U.S. companies now pay tax rates that are lower than those many Americans pay. A study late last year from the liberal Institute…
media mention February 7, 2020
Yahoo! Finance: Amazon paid a 1.2% tax rate on $13,285,000,000 in profit for 2019

Matthew Gardner, senior fellow for the Institute on Taxation and Economic Policy (ITEP), who analyzes corporations and their tax avoidance, says there’s “no meaningful” connection between Amazon and many of…
media mention February 7, 2020
The Sun: AMAZON’S DIME Amazon paid just ONE per cent tax after making $13BILLION profit leaving taxpayers with jus $162million

One expert found ‘no meaningful’ link between Amazon and the tax payments in the SEC filing. Matthew Gardner, a senior fellow for the Institute on Taxation and Economic Policy, wrote:…
media mention February 7, 2020
Fox Business: Amazon paid tax rate of 1.2% on $13B in profits last year

“This means that instead of avoiding 100 percent of its income tax liability, Amazon appears to have avoided only 94 percent of its tax bill last year,” Matthew Gardner, senior fellow…
media mention February 7, 2020
The Daily Mail: Amazon paid only $162M in US federal taxes in 2019 after making $13BILLION in profit – an effective rate of just one per cent

Taxes collected on behalf of the government for payroll and from online sales from third-party vendors don’t count as taxes paid. The expert wrote in a post made for the Institute…
media mention February 6, 2020
Politico: Cloudy Forecast for Tax Law Fixes

DECOUPLING DEDUCTIONS: Two-thirds of states with property tax deductions set a $10,000 ceiling along the lines of the TCJA’s cap on federal deductions for state and local taxes, according to…
media mention February 6, 2020
International Business Times: Amazon Only Paid 1.2% Taxes In 2019 Despite $13 Billion Profit

Yahoo Finance, however, pointed that with the exception of the federal income tax, the listed amounts aren’t actually taxes Amazon paid to the federal government. There’s “no meaningful” connection between Amazon…
media mention February 4, 2020
CNBC: Amazon had to pay federal income taxes for the first time since 2016 — here’s how much

However, paying something like payroll tax is hardly something to boast about, according to Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, or ITEP, a…
media mention February 4, 2020
The Verge: Amazon finally owes federal income taxes this year — but we still don’t know how much it’s paying

t’s still, however, a low number compared to Amazon’s total profits. “It’s not fair to say [Amazon] paid nothing” on federal taxes anymore, says Matthew Gardner of the Institute on…
media mention February 3, 2020
Bond Buyer: IRS SALT regulation allows loophole for pass-through businesses

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media mention February 3, 2020
Morning Call: Air Products collects $17 million tax rebate, one of many Fortune 500 companies that paid no corporate taxes

Air Products joined PPL, which during approximately the same period had a $19 million federal tax cut, according to the nonprofit Institute on Taxation and Economic Policy. Fortune 500 company…
media mention January 31, 2020
Law 360: Blame Deficit on Disastrous Tax Law

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media mention January 31, 2020
Seattle Times: Amazon touts 2019 federal taxes, but the picture is complicated

So was Amazon’s 2019 U.S. federal income tax bill $1 billion or $162 million? The discrepancy stems from different financial statements companies prepare for tax authorities and investors, which recognize…
media mention January 31, 2020
Gizmodo: Amazon’s Tax Claims Are Riddled with BS

According to Matthew Gardner, a senior fellow with the Institute on Taxation and Economic Policy, these numbers are, at best, misleading. “You look at the different types of taxes that…
media mention January 29, 2020
USA Today: State taxes: Which are the most tax-friendly states for the wealthy?

Wealthier Americans tend to pay a smaller share of their income in state and local taxes than lower-income Americans. According to a 2018 report released by The Institute on Taxation…
media mention January 27, 2020
Scroll.in: At the centre of the US government and Facebook’s tax dispute is the company’s Dublin office

If the IRS prevails in court, it could cost Facebook up to $9 billion more in taxes, based on estimates in the company’s securities filings. It would be a notable…
media mention January 27, 2020
Washington Post: Va. Governor Proposes Gas Tax Increase

Virginia would join 31 states that have raised or reformed their gas tax in the last decade, according to the Institute on Taxation and Economic Policy. Read more
media mention January 26, 2020
The Washington Spectator: Tax Policy Options for the Next Administration

Bernie Sanders has proposed taxing estates worth more than $3.5 million. The Institute on Taxation and Economic Policy estimates that this would raise more than $30 billion a year. Another…
media mention January 25, 2020
Business Insider: Treasury Secretary Mnuchin keeps insisting Trump’s tax cuts will pay for themselves despite consistent evidence they exploded the federal deficit

It’s soaring because the government is collecting fewer tax dollars as a result of the cuts. One study from the Institute on Taxation and Economic Policy, a left-leaning think-tank, released in…
media mention January 25, 2020
New York Times: As States Add Money to Fix Roads, U.S. Is Urged to Ante Up

According to the Institute on Taxation and Economic Policy, most states have raised their gasoline taxes over the last several years. Along with the ballot initiatives passed to support highway…
media mention January 24, 2020
Politico: The Power of Semantics

States’ use of tax incentives to lure the filming of movies and television shows is one of those policy ideas that experts of basically all political persuasions are against —…
media mention January 23, 2020
ProPublica: Who’s Afraid of the IRS? Not Facebook

If the IRS prevails in court, it could cost Facebook up to $9 billion more in taxes, based on estimates in the company’s securities filings. It would be a notable…

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