This is Democracy Now! I’m Amy Goodman, with Juan González. The Institute on Taxation and Economic Policy has found the number of large U.S. companies who paid nothing in federal…
“There’s a general rule that you’re not supposed to be able to claim losses for more than you put into a deal,” Steve Wamhoff, director of federal tax policy at…
“There’s a general rule that you’re not supposed to be able to claim losses for more than you put into a deal,” says Steve Wamhoff, director of federal tax policy…
But these plans have one major obstacle: Donald Trump is president. Policymakers in the Democratic fold have been arguing over what should happen in a hypothetical 2021 in which Trump…
Under President Trump’s new tax law, 60 of America’s biggest corporations paid $0 in federal taxes in 2018, despite earning billions of dollars in profits. Amazon, Netflix, General Motors, Chevron,…
The GOP also doesn’t talk about how the biggest winners of the controversial tax law are — surprise — some of the country’s largest, publicly held corporations. They owed nothing on…
ou may have paid federal taxes, but four Fortune 500 companies in Michigan did not. In fact, they received hundreds of millions of dollars in refunds collectively. DTE Energy, Penske…
Big Tech companies like Amazon, IBM and Netflix paid no federal income tax this year according to data compiled by the Institute on Taxation and Economic Policy (ITEP), and some…
The trick, of course, is that consumption taxes are regressive, and property taxes are not. Again, because there’s no state income tax, the burden of funding state government falls disproportionately…
The 60 companies that didn’t pay taxes last year, including tech giants such as Amazon and Netflix, relied on a number of legal strategies to eliminate their taxes, according to…
The 2017 tax law also lowered federal tax rates, narrowed the alternative minimum tax and increased the size of both the standard deduction and child tax credit. Because of these…
A recent report from the Institute on Taxation and Economic Policy said Amazon used “tax loopholes that allow profitable companies to routinely avoid paying federal and state income taxes.” Read…
We knew President Trump’s 2017 tax bill favored corporate America, but this is ridiculous. According to a new study, a group of 60 companies in the Fortune 500 booked nearly…
While millions of Americans had to cut Uncle Sam a check this year to pay their tax bill, 60 of the Fortune 500 companies paid zero taxes on their revenue,…
Only California, New York, Texas and Florida saw a greater number of households paying more in taxes, according to the report, based on data from the Institute on Taxation and…
Amazon. Delta Air Lines. Chevron. IBM. General Motors. Molson Coors. Eli Lilly. What do these companies have in common? They paid no federal taxes last year. Thanks to President Trump’s…
Congress has yet to take up spending cuts to big-ticket items like Medicare and Social Security that the White House had proposed to curb deficits. Still, mounting debt makes conversations…
Other analyses reached similar conclusions. The Joint Committee on Taxation — Congress’s nonpartisan team of tax analysts — found that every income group would see a tax cut on average.…
“At least 60 companies reported that their 2018 federal tax rates amounted to effectively zero, or even less than zero, on income earned on U.S. operations, according to an analysis…
Spending on research and development climbed slightly. Capital expenditures rose because Alphabet Inc. and Facebook Inc. almost doubled spending in that category. Apple Inc. and its partners have yet to…
A new report reveals that some American companies didn’t just pay no taxes last year — they paid negative taxes. The report by D.C.-based think tank Institute on Taxation and Economic Policy (ITEP) looked…
Corporations — they’re just like us. They, too, have to file income taxes every year. But unlike most of us, they have teams of accountants who can minimize their tax…
A recent report by the Institute on Taxation and Economic Policy says low- and middle-income Utahns pay an overall effective tax rate that is higher than the rate paid by…
