“I’d say their tax rate will be a lot closer to zero than to 21%,” said Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, referencing…
“There doesn’t appear to be any mechanism whatsoever to ensure that these loans were available only to companies that were actually affected by the coronavirus and the associated economic shutdown,”…
The IRS could have gotten flack for allowing the deductions, tax professionals said, as the agency could be seen as effectively legislating. The agency didn’t immediately return a request for…
“High income people will benefit,” said Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy. “Anyone selling a whole bunch of stock on which they had…
Tax experts across the political spectrum say it makes sense to limit meals and entertainment deductions. “It’s essentially a personal expense masquerading as a business expense, ” said Matt Gardner,…
One tax analyst said hard-hit industries might be trying to protect their net operating losses from unwelcome distressed investors looking for buying opportunities. “It seems like one of the unforeseen…
On that haul, they paid an average effective federal income tax rate of 2.3 percent. According to Matthew Gardner at the Institute on Taxation and Economic Policy, that rate is…
Amazon listed a “summary” of its 2019 U.S. taxes as including $2.4 billion in other federal taxes, including payroll taxes and customs duties, and more than $1.6 billion in state…
Many of Minnesota’s major corporations paid lower tax rates in 2018 than new, dramatically lower corporate tax rates. That was among the findings in an analysis of government filings by…
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.…
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…
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:…
“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…
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…
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…
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…
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…
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…
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…
HELENA, Mont. – During the first year of the Trump administration’s new tax law, 91 Fortune 500 companies didn’t pay a dime in federal income tax. That’s according to a new…
The largest chunk of Chevron’s $1.1 billion in tax breaks came in the form of tax deferral, a longstanding tax instrument that enables businesses to postpone paying taxes until a…
A big driver of the higher taxes in healthcare is a doomed Affordable Care Act fee on health insurers. The amount each insurer pays is based on premium revenue. President…
Roque said corporate tax cuts and loopholes have been enacted by Congresses and presidents of both major parties for the past two decades. Champions of the new tax code argued…
