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…
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…
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…
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…
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…
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…
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…
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
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…
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…
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…
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 —…
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…
Microsoft, meanwhile, has continued to reap the benefits of its offshore deals. In 2017, the last year before the new tax law cut the corporate rate from 35% to 21%,…
The figures were developed by the nonpartisan Institute on Taxation and Economic Policy. to project the likely effects if the Democrats’ proposal went into effect in 2022. That’s likely the…
And creation of a new Child Tax Credit could provide poor and middle-income residents — even those earning nearly $500,000 per year — as much as $800 to $1,550 on…
More progressive taxes aren’t a panacea for income inequality, either. With a top rate of 12.3%, plus a 1% millionaire tax, California has the most progressive tax code in the…
Here’s another reason to complain: Many companies aren’t paying even the lower rate. In 2018, the first year under the new law, 379 profitable companies in the Fortune 500 paid…
The “circuit breaker” would protect seniors and low income homeowners from paying too high of a percentage of their income on property taxes. According to the Institute on Taxation and…
While some Americans received a tax cut during the 2018 filing season, it was nowhere enough to substantially improve their lives. The Institute on Taxation and Economic Policy warns, “The few…
“We’re seeing such a dramatic change in the debate,” Steve Wamhoff, the director of federal tax policy at the left-leaning Institute on Taxation and Economic Policy, said. “There is a…
According to an analysis by the Institute on Taxation and Economic Policy, low-income families spend about three quarters of their income on items that are subject to sales taxes while…
