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…
Tax responsibilities tied to those sales will be noticeable this year: 28 states have added taxes on out-of-state sellers since last holiday season due to last year’s Wayfair decision, according…
“These companies aren’t simply following the law; in many cases, they wrote the law,” Gardner said. “These corporate tax cuts were enacted because of a very aggressive lobbying strategy by…
QUESTION: How much money is the impeachment process costing taxpayers? ANSWER: We don’t know. There have been a handful of efforts to try and calculate the cost to taxpayers, but…
One reason for Amazon‘s nonexistent federal tax bill is the Tax Cuts and Jobs Act that Congress enacted in 2017, which lowered the statutory corporate tax rate from 35 percent…
Still Terrible at Two was published just a day after the Institute on Taxation and Economic Policy released a new report which found that more than 90 U.S. corporations on the…
A new study by the Institute on Taxation and Economic Policy found that many of America’s largest corporations paid $0 in federal income taxes under the first year of President Trump’s tax…
Matthew Gardner, senior fellow at ITEP and lead author of the report says that what companies doing is “entirely legal”, but that they can avoid paying taxes thanks to tax…
More than 90 large, profitable corporations on the Fortune 500 list effectively did not pay a penny in federal income taxes in 2018, according to a new report published Monday by the…
About 400 of America’s largest corporations paid an average federal tax rate of about 11 percent on their profits last year, roughly half the official rate established under President Trump’s…
“Something like $1.5 billion in future taxes that they had promised to pay, just vanished,” said Matthew Gardner, an analyst at the liberal Institute on Taxation and Economic Policy in Washington. “The…
Tax policy experts told us they aren’t sure how much the impeachment inquiry has cost since Speaker Nancy Pelosi announced it Sept. 24. “I can’t think of anyone who’s tried to calculate…
A leaky corporate income tax ultimately shifts more of the cost of Florida government from corporations onto others, including low- and middle-income families, said Matt Gardner, a senior fellow at…
The Treasury Department should tread cautiously in weakening these rules now while Democratic lawmakers are eager to repeal large portions of the 2017 tax overhaul, said Matt Gardner, a senior…
As Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, puts it in a blog, the joint statement likely reflects more of a fear of shifting…
“The administration based the big 2017 tax cut on the idea that it would spur economic growth,” says Matthew Gardner, a senior fellow at the Institute on Taxation and Economic…
Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, said there are sensible reasons to ask whether these tax breaks are more generous than they should…
Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, emailed this morning to say that I was reading the below section of the 10-K backward. Rather…
“I’ll cheerfully acknowledge that [the current provision] is not what we want to really know, but it’s also the closest thing we’re ever going to see,” said Matt Gardner, senior…
Sixty of America’s Fortune 500 corporations paid nothing — or got refunds — for 2018, according to a report released last month by the Institute on Taxation and Economic Policy…
Identifying companies that pay nothing in federal taxes is no easy task, said Matthew Gardner, one of the authors of the IATEP report, and he suspects there are far more…
