Tax

Report | U.S. PIRG and Citizens for Tax Justice | Tax

Offshore Shell Games 2015

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 the tax code. Rather than paying their full share, many multinational corporations use accounting tricks to pretend for tax purposes that a substantial portion of their profits are generated in offshore tax havens, countries with minimal or no taxes where a company’s presence may be as little as a mailbox. Multinational corporations’ use of tax havens allows them to avoid an estimated $90 billion in federal income taxes each year.

News Release | U.S. PIRG | Tax

U.S. PIRG COMMENDS THE PASSAGE OF THE BIPARTISAN TRUTH IN SETTLEMENTS ACT AS A WIN FOR AMERICAN TAXPAYERS

Yesterday, the U.S. Senate unanimously passed the bipartisan Truth in Settlements Act, sponsored by Senators James Lankford (R-OK) and Elizabeth Warren (D-MA).  This legislation would increase transparency around settlements reached between federal agencies and corporations accused of wrongdoing.  

Media Hit | Tax

Corporate Accountability

Letter to the Editor in the New York Times calling on the Department of Justice to end write offs for corporate wrongdoing. 

"If the Justice Department wants to get serious about holding corporations accountable for their misconduct, the department should certainly use new tools like holding people personally accountable. But the old tools, like settlement payments, need some sharpening, too."

News Release | U.S. PIRG | Tax

U.S. PIRG COMMENDS THE BIPARTISAN TRUTH IN SETTLEMENTS ACT AS A WIN FOR AMERICAN TAXPAYERS

Today, Representatives Bill Posey (R-FL) and Matt Cartwright (D-PA) reintroduced the Truth in Settlements Act.  This bill, which has already been reintroduced in the Senate by Senators James Lankford (R-OK) and Elizabeth Warren (D-MA), would increase transparency around settlements reached between federal agencies and corporations accused of wrongdoing.  

News Release | U.S. PIRG Education Fund | Tax

Good News for Government Transparency

In a major victory for government transparency, states and local governments will be required to disclose the amount of revenue lost through programs that grant special tax breaks and abatements for economic development. 

News Release | U.S. PIRG | Tax

U.S. Senator Demands BP and Justice Dept Disclose Spill Settlement, Disallow Spill Tax Write Off

A U.S. Senator has told the Department of Justice to disclose its out-of-court settlement with BP that released the oil giant from charges for the Gulf oil spill and to make sure the settlement isn't allowed to be used as a tax write off.

Media Hit | Tax

TV News Investigation About BP Settlement Based on USPIRG Report

WAFF TV News in Alabama investigated and confirmed U.S. PIRG findings that BP is poised to shift much of the cost of its $18.7 billion out-of-court settlement for the Gulf oil spill back onto consumers. The segment's statement from U.S. Senator Shelby unfortunately does not address the problem.

News Release | U.S. PIRG | Tax

BP’s $18.7 Settlement Today for Gulf Spill Appears to Be Mostly Tax Deductible

BP's settlement today for the Gulf oil spill appears to contain a huge hidden tax windfall for the company. USPIRG calls on the Justice Department to ensure taxpayers aren't subsidizing the oil giant's misdeeds.

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