IRS Tax Compliance Costs the US Economy $546B Annually Skip to content taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. code imposes many costs on the US economy. The most direct costs, of … Read more
This report is a modified version of an earlier report ITEP published in collaboration with Liberation in a Generation. 1. Corporate tax cuts and corporate tax avoidance worsen income inequality. When corporations are allowed to pay less in taxes, the ultimate beneficiaries are mainly the owners of corporate stocks, who are concentrated among the wealthiest … Read more
Google’s European headquarters in Dublin, Ireland. Niall Carson/PA Images via Getty Images Ireland, despite its small land size and population, is among the wealthiest countries in the world. The island nation boasted a GDP per capita of $104,270 in 2023, according to the IMF, next only to Luxembourg and higher than the U.S., Switzerland, Singapore and … Read more
Loblaw chairman Galen Weston Jr, the creaseless face of inherited Canadian wealth, smiled serenely at parliamentarians as he explained why, when it came to rising food prices, his company was blameless. Speaking to an agri-food committee in the spring of 2023, he told them that Loblaw’s profit “goes back into the country.” “The profit we … Read more
Tyson chicken barns in West Tennessee on April 21, 2021. (Photo: John Partipilo) They’re scattered across the rural Tennessee landscape: blue-sided barns stretching the length of five U.S. football fields, clustered together in groups numbering as few as three to as many as 20. Each of Tennessee’s nearly 2,200 industrial chicken barns produce about 200,000 … Read more
For personal reasons, part of me wants the process to form a 501(c)(3) as simple as possible. I volunteer with the local high school’s parent-teacher organization (PTO), and by this time next year the organization must secure its tax-exempt status as a nonprofit public charity advancing education.That’s because our school district will no longer manage the financial assets of … Read more
Generative Artificial Intelligence (GenAI) is beginning to manifest itself in corporate tax, presenting both advantages and concerns. As a transformative technology capable of generating human-like text, code, and other creative content, GenAI is posed to reshape the tax landscape. Understanding the shift in GenAI adoption The desire to use GenAI in corporate tax has seen … Read more
Artificial intelligence (AI) is one of the most innovative and disruptive technologies in recent decades. The AI market has expanded rapidly as more organizations recognize the value of leveraging big data to make intelligent business decisions and improve customer experiences.Moreover, the rise of large language models (LLMs) and generative AI platforms, such as Open AI’s … Read more
Oregon Ballot Measure IP-17 | Oregon Rebate: Details & Analysis Skip to content Home • Blog • Oregon Ballot Measure Would Yield Sky-High Business Tax Rates Oregon state and local taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general … Read more
The president has been criticized for not making tangible changes or addressing important issues in the country. Despite his stylish public appearances and activities, such as attending sports events with his child, the lack of visible progress in solving pressing problems like traffic congestion, education system inefficiencies, healthcare issues, and more, raises concerns about his leadership. The focus should be on addressing these issues rather than on his personal style and public appearances.