Matthew Gardner
Matt Gardner is a senior fellow at ITEP where he has worked since 1998. He previously served as ITEP’s executive director from 2006 to 2016. Matt’s work focuses on federal, state and local tax systems, with a particular emphasis on the impact of tax policies on low- and moderate-income taxpayers. He uses ITEP’s microsimulation model to produce economic projections and analyses on the effects of current and proposed federal and state tax and budget policies.
-
media mention July 9, 2020 MedPage Today: Tenet Gets Big Federal $$$ but Still Cuts Employees
Many companies, including Tenet, delayed paying their 2017 tax liabilities at the rate then (35%) to follow whatever the rate is when they decide to pay (21% for 2019), said… -
media mention July 8, 2020 Business Insider: Trump Wants Tax Breaks to Encourage People to Watch Sports Games and Travel Around the US. Here’s Why That Could Backfire as the Pandemic Rages.
The McSally proposal also drew fire from economists who argued it would mainly benefit wealthier taxpayers and not be well targeted. “Low and most middle-income families will receive no or… -
media mention June 30, 2020 POLITICO Morning Tax: Welcome, commissioner
FOOT OFF THE ACCELERATOR, PLEASE: The Institute on Taxation and Economic Policy’s Matthew Gardner and Steve Wamhoff maintain in a new paper that the proposals to allow companies to cash out… -
media mention June 23, 2020 The Fiscal Times: A ‘Wacky’ Tax Credit Idea: $4,000 for Vacation
Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, says that the loose requirements in the bill mean “that any car owner with an ounce of… -
media mention May 22, 2020 Yahoo Finance: Biden Hits Amazon on Taxes, Which May Benefit From the Coronavirus Outbreak
While the numbers prove its savviness for capitalizing on advantages under the U.S. Tax Code, newly available deductions under the CARES Act make tax savings even more accessible. And with… -
media mention May 21, 2020 Bloomberg:Energy Companies Reap Tax Breaks As They Brace For Virus Impact
But what makes oil and gas companies especially poised to take advantage of this provision is the cyclical nature of the commodity they produce and transport. “It’s not at all… -
media mention May 15, 2020 Yahoo!: How the coronavirus outbreak may help keep Amazon’s federal tax bill low (again)
“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… -
media mention May 8, 2020 Center for Public Integrity: COVID-19 Didn’t Affect This Company, But It Still Got a $893K Federal Loan
“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,”… -
media mention May 1, 2020 Bloomberg: Loan Forgiveness Deductions Left in Hands of Congress
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… -
media mention April 9, 2020 Bloomberg: Wealthy Win, Low-Wage Earners Lose in April 15 Tax Extension
“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… -
media mention April 6, 2020 Wall Street Journal:This Coronavirus Tax Policy Idea Wasn’t on the Table. Then Famous Chefs Called the President.
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,… -
media mention March 28, 2020 Wall Street Journal:Whiting Petroleum Adopts Poison Pill to Protect Potential Tax Breaks
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… -
media mention March 25, 2020 American Prospect: Avoid Taxes, Receive Federal Bailouts
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… -
media mention February 20, 2020 MarketWatch: Jeff Bezos spent more on this house in Beverly Hills than Amazon has paid so far in federal corporate income tax for 2019
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… -
media mention February 20, 2020 Minneapolis Star-Tribune: Tax reform may be more lucrative than advertised for corporations
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… -
media mention February 7, 2020 Politifact: Fact-checking the Democratic claim that Amazon doesn’t pay taxes
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.… -
media mention February 7, 2020 Yahoo! Finance: Amazon paid a 1.2% tax rate on $13,285,000,000 in profit for 2019
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… -
media mention February 7, 2020 The Sun: AMAZON’S DIME Amazon paid just ONE per cent tax after making $13BILLION profit leaving taxpayers with jus $162million
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:… -
media mention February 7, 2020 Fox Business: Amazon paid tax rate of 1.2% on $13B in profits last year
“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… -
media mention February 7, 2020 The Daily Mail: Amazon paid only $162M in US federal taxes in 2019 after making $13BILLION in profit – an effective rate of just one per cent
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… -
media mention February 6, 2020 International Business Times: Amazon Only Paid 1.2% Taxes In 2019 Despite $13 Billion Profit
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… -
media mention February 4, 2020 CNBC: Amazon had to pay federal income taxes for the first time since 2016 — here’s how much
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… -
media mention February 4, 2020 The Verge: Amazon finally owes federal income taxes this year — but we still don’t know how much it’s paying
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… -
media mention January 31, 2020 Seattle Times: Amazon touts 2019 federal taxes, but the picture is complicated
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… -
media mention January 31, 2020 Gizmodo: Amazon’s Tax Claims Are Riddled with BS
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…