Quartz:Congress is facing fury over CARES Act tax breaks for the rich

The Institute on Taxation and Economic Policy explained in Aprilthat the new rules will allow companies to “game the system.” They can amend their past taxes, applying current losses to offset income earned in years before 2018 when tax rates were more favorable to them. “Of course, this sort of timing shift is utterly unavailable to millions of low- and middle-income individuals and small businesses with conventional earnings profiles,” the taxation policy experts write. Read more