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Meta is claiming the research tax credit – a tax break meant to encourage innovation and experimentation – to pay for the equipment it uses in data centers to power its AI activities. ITEP described how Meta paid just 3.5% of its profits in federal corporate income taxes in 2025.

OBBBA’s expensing provision is becoming especially lucrative for the companies building out AI infrastructure right now. There is no evidence whatsoever that tax breaks are necessary to encourage their construction.

TurboTax maker Intuit reported nearly $6 billion in U.S. profits in 2025 and paid no federal income tax. Instead, the company received a refund, thanks in part to new tax breaks from OBBBA.

The Trump administration has been forced to pay out over $100 billion from illegal tariffs, and the biggest winners from these tariff refunds have been big corporations.

Tax-prep giant H&R Block paid no federal taxes on its U.S. income in 2025. It also made a public disclosure, required by the European Union, characterizing one-third of its global profits as earned in Ireland, a low-tax country where the company offers no tax services and has only 15 employees.

Six companies alone accounted for $83 billion of federal tax breaks disclosed by publicly traded U.S companies so far for 2025. Microsoft received a record high for single-year federal tax breaks for one publicly traded company, followed by Alphabet, Amazon, Meta, JPMorgan Chase, and Nvidia.

President Trump lashed out at ExxonMobil and Chevron for “making too much money." These companies are reporting enormous profits right now, partly the result of Trump’s war in Iran but also due to the corporate tax policies he's passed during his time in office.

Microsoft avoided federal income tax on almost all of its U.S. income for fiscal year 2026. The company’s 2.44 percent federal tax rate on over $100 billion of U.S. income is largely attributable to tax breaks that were either created or expanded by Republican tax cuts enacted at the behest of President Donald Trump in 2017 and 2025.

Corporate tax disclosures reveal that five profitable airlines paid almost nothing in federal income tax last year. In 2025, the effective federal income tax rates of these airlines ranged from 1.07 percent to below zero.  

Administration officials appear far more concerned about the public knowing too much about how U.S. corporations shift their income into offshore tax havens.

Microsoft reports a huge share of its worldwide profit in low-tax Ireland and is achieving this despite having a very small share of its employees there. As other companies make similar disclosures between now and the end of calendar year 2026, investors and the public will likely get a much clearer sense of how much profit corporations are hiding offshore—and how much tax they’re avoiding by doing so.

Corporate tax reforms could be more resilient than proposals to tax wealth or unrealized capital gains while achieving the same goal of more adequately taxing the income of billionaires.

A year after Elon Musk’s Department of Government Efficiency (DOGE) cut a swath of destruction through vital federal agencies including the Internal Revenue Service, Musk’s apparent antipathy toward the IRS suddenly makes more sense.  

The oil and gas industry has long been known for widespread tax avoidance. Now, thanks to new disclosure rules, we have a better picture of how this occurs.

Amazon received $17.5 billion in tax subsidies in 2025. That’s about 10% of all federal income tax subsidies for publicly traded corporations in 2025.

Corporate tax reforms should be the backbone of any progressive tax agenda and should be counted on to remain if other changes to our tax code are later thwarted by any of the three branches of government.

Both companies acknowledge that they will save billions because of the Trump administration's weakening of the Corporate Alternative Minimum Tax (CAMT). Meta and Qualcomm are just two of the corporations that will benefit from this corporate tax cut provided unilaterally by the Trump's Treasury Department.

Bezos' hand-picked editorial board argues that our tax code does not need to be more progressive because the share of federal income tax paid by the rich already exceeds their share of income. This is grossly misleading for at least two reasons.

When confronted with the completely accurate observation that their own annual reports disclose an estimated current federal income tax expense of zero on current-year income, the companies will desperately point to something else entirely.

The company’s latest annual report throws the doors wide open once again on Halliburton’s penchant for offshoring its profits to tax havens, thanks to terrific new disclosure rules introduced by an obscure but vital agency, the Financial Accounting Standards Board (FASB).

Cheniere Energy's latest annual financial report shows the company reaped a cool $380 million in tax cuts from a single regulatory change made by the Trump administration last fall.

Semiconductor giant Nvidia reported avoiding $6.8 billion in federal income taxes last year. The company did this in a year when it reported greater earnings growth than almost any corporation in history, with U.S. pretax income coming in at an astonishing $123 billion.

the fast-food multinational that owns KFC, Taco Bell, and Pizza Hut reported this week that it made $1 billion of pretax profits in the U.S. last year—and didn’t pay a dime of federal income taxes on those profits.

The company paid zero federal income tax in 2025 despite reporting $145 million of U.S. profits.

The Treasury Department is unilaterally cutting corporate taxes with regulations that ignore the statute they claim to implement, disregarding the separation of powers between the branches of government that has defined how America works for more than two centuries.