Close Corporate Tax Loopholes

Across the country, some of the nation’s most prosperous people and companies — including GE, Google and Goldman Sachs — have avoided paying the taxes they owe, costing taxpayers $147 billion just last year.

TAX HAVENS COST US $147 BILLION A YEAR

No company should be able to game the tax system to avoid paying what it legitimately owes. And, yet, with at least 83 of the nation's top 100 publicly-traded companies establishing shell companies in offshore havens to avoid taxes, this is becoming more the rule than the exception. GE, Google, Goldman Sachs and dozens of others have created hundreds of phantom entities with nothing more than a clever tax attorney and P.O. box.

Most recent academic studies estimate that about $147 billion in tax revenue is lost every year to offshore tax havens. The result? Cuts to public services, additional taxes today or additional debt to be paid by the next generation.

It’s not illegal, but it’s not right.

Meanwhile, the average small business paid $5,128 more to cover the billions that GE and others skipped out on last year, companies that don’t use these schemes keep struggling to compete with those that do, and state legislatures and Congress are considering deep cuts for essential public programs — from education, to health care, to clean air and drinking water.

We're being asked to tighten our belts and make sacrifices while giving the tax haven crew a free ride. U.S. PIRG is pushing for commonsense changes that simply say that if corporations are based here and generate profits here, then they should, like all of us who earn income here, pay the taxes they owe.

Issue updates

News Release | U.S. PIRG | Tax

U.S. PIRG Statement on Trump Administration Tax Plan

Statement from U.S. PIRG Advocate Michelle Surka about the recent Trump Administration tax proposal.

> Keep Reading
News Release | U.S. PIRG Education Fund and Frontier Group | Budget

New Report: Special Districts Too Often Fail to Show How They Spend Money

A new report found that most special districts across the country are failing to provide accessible, online, and comprehensive information about their spending. Special districts are created to provide specific services like fire protection, medical care, transportation and housing for a designated area that would otherwise typically be provided directly by a city, county or state. 53% of the 79 special districts evaluated across the country earned failing grades for their spending transparency, according to “Following the Money 2017: Governing in the Shadows” by United States Public Interest Research Group Education Fund and Frontier Group. Each district evaluated earned an A through F grade for its transparency efforts.

> Keep Reading
Report | U.S. PIRG Education Fund and Frontier Group | Budget

Following the Money 2017: Special Districts

Citizens’ ability to understand how their tax dollars are spent is fundamental to democracy. Budget and spending transparency holds government officials accountable for making smart decisions, checks corruption, and provides citizens an opportunity to affect how government dollars are spent.

> Keep Reading
News Release | U.S. PIRG | Tax

New Bill Closes Biggest Corporate Tax Loopholes, Offers Commonsense Tax Reform Solutions

Statement from U.S. PIRG Tax and Budget Advocate Michelle Surka on Rep. Pocan’s New Bill to Close Corporate Tax Loopholes:

> Keep Reading
News Release | U.S. PIRG | Tax

New Bills Introduced To Curb Offshore Tax Avoidance, End Tax Gimmicks

Washington, D.C. – Today, Representative Lloyd Doggett (D-TX) introduced the Corporate EXIT Fairness Act and the Stop Tax Haven Abuse Act along with co-sponsor Sheldon Whitehouse (D-RI). These bills would close a number of loopholes that let corporations and wealthy individuals book income to offshore tax havens to avoid taxes. The Joint Committee on Taxation calculates that this legislation would save taxpayers over $250 billion.

> Keep Reading

Pages

News Release | U.S. PIRG | Tax

U.S. PIRG Statement on Trump Administration Tax Plan

Statement from U.S. PIRG Advocate Michelle Surka about the recent Trump Administration tax proposal.

> Keep Reading
News Release | U.S. PIRG Education Fund and Frontier Group | Budget

New Report: Special Districts Too Often Fail to Show How They Spend Money

A new report found that most special districts across the country are failing to provide accessible, online, and comprehensive information about their spending. Special districts are created to provide specific services like fire protection, medical care, transportation and housing for a designated area that would otherwise typically be provided directly by a city, county or state. 53% of the 79 special districts evaluated across the country earned failing grades for their spending transparency, according to “Following the Money 2017: Governing in the Shadows” by United States Public Interest Research Group Education Fund and Frontier Group. Each district evaluated earned an A through F grade for its transparency efforts.

> Keep Reading
News Release | U.S. PIRG | Tax

New Bill Closes Biggest Corporate Tax Loopholes, Offers Commonsense Tax Reform Solutions

Statement from U.S. PIRG Tax and Budget Advocate Michelle Surka on Rep. Pocan’s New Bill to Close Corporate Tax Loopholes:

> Keep Reading
News Release | U.S. PIRG | Tax

New Bills Introduced To Curb Offshore Tax Avoidance, End Tax Gimmicks

Washington, D.C. – Today, Representative Lloyd Doggett (D-TX) introduced the Corporate EXIT Fairness Act and the Stop Tax Haven Abuse Act along with co-sponsor Sheldon Whitehouse (D-RI). These bills would close a number of loopholes that let corporations and wealthy individuals book income to offshore tax havens to avoid taxes. The Joint Committee on Taxation calculates that this legislation would save taxpayers over $250 billion.

> Keep Reading
News Release | U.S. PIRG | Public Health, Tax

Congressional leaders call for pesticide investigation

Statement from U.S. PIRG Toxics Director Kara Cook-Schultz on House Members’ Call for an Investigation into the EPA

> Keep Reading

Pages

Report | U.S. PIRG Education Fund and Frontier Group | Budget

Following the Money 2017: Special Districts

Citizens’ ability to understand how their tax dollars are spent is fundamental to democracy. Budget and spending transparency holds government officials accountable for making smart decisions, checks corruption, and provides citizens an opportunity to affect how government dollars are spent.

> Keep Reading
Report | U.S. PIRG Education Fund | Budget, Tax

Picking Up the Tab 2016

Every year, corporations and wealthy individuals use complicated gimmicks to shift U.S. earnings to subsidiaries in offshore tax havens – countries with minimal or no taxes – in order to reduce their federal and state income tax liability by billions of dollars. While tax haven abusers benefit from America’s markets, public infrastructure, educated workforce, security and rule of law – all supported in one way or another by tax dollars – they avoid paying their fair share for these benefits.

> Keep Reading
Report | U.S. PIRG Education Fund | Budget, Tax

Offshore Shell Games 2016

U.S.-based multinational corporations are allowed to play by a different set of rules than small and domestic businesses or individuals when it comes to paying taxes. Corporate lobbyists and their congressional allies have riddled the U.S. tax code with loopholes and exceptions that enable tax attorneys and corporate accountants to book U.S. earned profits to subsidiaries located in offshore tax haven countries with minimal or no taxes.

> Keep Reading
Report | U.S. PIRG Education Fund and Frontier Group | Budget, Tax

Following the Money 2016

State governments spend hundreds of billions of dollars each year through contracts for goods and services, subsidies to encourage economic development, and other expenditures. Public accountability helps ensure that state funds are spent as wisely as possible.

State-operated spending transparency websites provide checkbook-level detail on government spending, allowing citizens and watchdog groups to view payments made to individual companies, the goods or services purchased, and the benefits obtained in exchange for public subsidies.

 

> Keep Reading
Report | US PIRG Education Fund | Tax

Settling for a Lack of Accountability?

When large companies harm the public through fraud, financial scams, chemical spills, dangerous products or other misdeeds, they almost never just pay a fine or penalty, as ordinary people would. Instead, these companies negotiate out-of-court settlements that resolve the charges in return for stipulated payments or promised remedies. These agreements, made on behalf of the American people, are not subject to any transparency standards and companies often write them off as tax deductions claimed as necessary and ordinary costs of doing business.

> Keep Reading

Pages

Blog Post | Budget, Tax

On the Anniversary of the Panama Papers, What Have We Learned?Alexandria RobinsMichelle Surka

Today marks one year since a leak of millions of documents from the Panamanian law firm Mossack Fonseca gave a preview into the world of anonymous companies used to hide money both here at home and abroad.

> Keep Reading
Blog Post | Tax

Statement on the latest release of Panama Paper documents | Michelle Surka

The International Consortium of Investigative Journalists, which in April released the “Panama Papers”, today shared a new set of data which again highlights the web of anonymous shell companies that enables everything from white collar tax evasion, secret campaign spending, and consumer scams to money laundering by drug dealers and corrupt foreign leaders. U.S. PIRG’s Tax and Budget Advocate Michelle Surka, made a statement about the latest leaks:

> Keep Reading
Blog Post | Tax

It’s Time for the U.S. to Lead on Public Registries for Anonymous Shell Companies | Jeremy Flood

The UK and Australia have already agreed to disclose the true owners of anonymous shell companies. It's time for the United States to get serious about incorporation transparency. 

> Keep Reading
Blog Post | Tax

The Panama Papers: So Much Of It Is Legal, And That's A Problem | Jeremy Flood

After a leak of millions of documents from the Panamanian law firm Mossack Fonseca revealed the widespread use of anonymous companies to hide money abroad, one fact remains clear —  setting up secret shell firms to hide secret money is totally legal. 

> Keep Reading
Blog Post | Budget, Tax, Transportation

A Terrible, Horrible, No Good, Very Bad Idea | Jaimie Woo

A little more than a year ago, I highlighted the absurdity of using a corporate tax holiday to fund infrastructure. Here's a quick refresher: Currently, large wealthy corporations avoid taxes by making it look as though their U.S. profits are generated offshore - costing Americans $90 billion each year in tax revenue.

> Keep Reading

Pages

View AllRSS Feed

Consumer Alerts

Join our network and stay up to date on our campaigns, get important consumer updates and take action on critical issues.
Optional Member Code

Support Us

Your donation supports U.S. PIRG’s work to stand up for consumers on the issues that matter, especially when powerful interests are blocking progress.