Bloomberg: Amazon Doesn’t Plan to Pay the IRS Anything This Tax Season
media mentionThe fact that Amazon can legally reduce its tax bill to nothing calls into question the effectiveness of the code, said Matthew Gardner, a senior fellow at the Institute of Taxation and Economic Policy. While those breaks have the backing of Congress and were implemented for some social or economic policy goal, they might be encouraging corporate action that would happen anyway, he said.
Other profitable companies, including Netflix Inc., General Motors Co. and Prudential Financial Inc., are able to use tax breaks to completely offset their tax bill, Gardner said.