Close Corporate Tax Loopholes Updates

Report | U.S. PIRG | Tax

Picking Up the Tab

Some U.S.-based multinational firms or individuals avoid paying U.S. taxes by transferring their earnings to tax haven countries with minimal or no taxes. These tax haven users benefit from their access to America’s markets, workforce, infrastructure and security; but they pay little or nothing for it—violating the basic fairness of the tax system and forcing other taxpayers to pick up the tab.

News Release | U.S. PIRG | Tax

Taxpayers would Pay $426 to Make Up for Tax Haven Abuse, Small Businesses $2,116

With Tax Day approaching, a new U.S. PIRG report found the average tax filer in 2011 would have to pay $426 to make up for revenue lost from corporations and wealthy individuals shifting income to offshore tax havens. The report additionally found that if they were to cover the cost of the corporate abuse of tax havens in 2011, the average American small business would have to pay $2,116.

News Release | U.S. PIRG | Budget, Democracy, Tax

Release of New Report: Loopholes for Sale

A new report released Wednesday, March 21 by U.S. PIRG and Citizens for Tax Justice (CTJ) found that thirty unusually aggressive tax dodging corporations have made campaign contributions to 524 (98 percent) sitting members of Congress, and disproportionately to the leadership of both parties and to key committee members. The report, Loopholes for Sale: Campaign Contributions by Corporate Tax Dodgers, examines campaign contributions made by a total of 280 profitable Fortune 500 companies in 2006, 2008, 2010 and to date in 2012.

Report | U.S. PIRG Education Fund | Budget, Democracy, Tax

Loopholes for Sale

A new report by U.S. PIRG and Citizens for Tax Justice (CTJ) found that thirty unusually aggressive tax dodging corporations have made campaign contributions to 524 (98 percent) sitting members of Congress, and disproportionately to the leadership of both parties and to key committee members. The report, Loopholes for Sale: Campaign Contributions by Corporate Tax Dodgers, examines campaign contributions made by a total of 280 profitable Fortune 500 companies in 2006, 2008, 2010 and to date in 2012.

News Release | U.S. PIRG | Budget

Ryan Budget a Windfall for Special Interests, Devastating to Public Priorities

While U.S. PIRG recognizes the need to address the nation’s deficit, Chairman Paul Ryan’s budget plan proposes a windfall for corporate tax dodgers, Wall Street banks, health insurance companies, and the oil industry while slapping the public with harmful cuts to public priorities like Pell Grants and public transportation.

News Release | U.S. PIRG | Budget, Tax

Amendment Passes to Crack Down on Offshore Tax Cheats

 

Statement of U.S. PIRG Tax and Budget Associate Dan Smith on the passage of the Senate Amendment 1818 to crack down on offshore tax evaders, introduced by Senators Levin, Conrad, and Whitehouse to the Transportation Bill.

 

News Release | U.S. PIRG | Tax

New in The Huffington Post: Will BP’s Misdeeds Be Further Subsidized by Taxpayers?

New In the Public Interest column today on The Huffington Post from Phineas Baxandall

U.S. Public Interest Research Group (U.S. PIRG) Senior Analyst on Tax and Budget Policy explains the hidden tax subsidy likely to be in a settlement unless it’s prohibited

News Release | U.S. PIRG | Budget

Facebook’s Tax Dodge Stands to Make Billions for Company and Zuckerberg

U.S. Senator Carl Levin isn’t necessarily the man you’d look to for the latest news about Facebook. The 77-year old was described by Time magazine as “pudgy, balding and occasionally rumpled, and he constantly wears his glasses at the very tip of his nose.” However, today he broke some shocking news on the Senate floor about special tax favors that Facebook and its CEO, Mark Zuckerberg, will enjoy at great cost to the U.S. Treasury.

News Release | U.S. PIRG | Tax

White House Plan to Close Special Interest Tax Loopholes Is the Right Approach to Reform, But Details Matter

The President has put forward the beginnings of a tax reform plan that takes the right approach, but is still missing critical details. America needs a level playing field where businesses succeed by being more productive and innovative, not by hiding profits in the Cayman Islands or other tax havens. By ending special-interest tax preferences, the administration plan could help the economy and reduce debt, while addressing public outrage about large companies dodging their taxes.

News Release | U.S. PIRG | Budget

White House Plan to Close Special Interest Tax Loopholes Is the Right Approach to Reform, But Details Matter

Statement by Phineas Baxandall, Senior Tax and Budget Analyst for the U.S. Public Interest Research Group, in response to the White House announcement today proposing to eliminate tax loopholes and preferences.

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