Tax

News Release | Arizona PIRG Education Fund | Tax

As part of Sunshine Week, Arizona Receives "B" in Annual Report on Transparency of Government Spending

Arizona received a “B” when it comes to government spending transparency, according to the Arizona PIRG Education Fund’s annual report “Following the Money 2015: How the 50 States Rate in Providing Online Access to Government Spending Data.”

News Release | Arizona PIRG | Tax

BP Could Take $6.3 Billion Tax Deduction For Gross Negligence In Deepwater Horizon Spill

As a result of a U.S. District Judge finding British Petroleum (BP) grossly negligent in its role in the Deepwater Horizon disaster, BP will likely pay up to $18 billion for violations of the Clean Water Act. But if the Environmental Protection Agency fails to specifically forbid it, BP could take a tax windfall of up to $6.3 billion from a settlement deal, effectively shifting over a third of the cost back onto taxpayers.

Today we joined with Good Jobs First and organizations in California, Nevada, New Mexico, and Texas to send a letter to elected officals about Tesla Motors.

News Release | Arizona PIRG Education Fund | Tax

Bank of America settlement loophole creates at least $4 billion burden for taxpayers

Taxpayers will shoulder anywhere from $4 to $5.8 billion of today’s $16.65 billion Bank of America settlement with the U.S. Justice Department. The settlement, which releases the bank from charges of alleged illegal activity related to mortgage activities, specifically refuses to stop Bank of America from writing the settlement off as a tax break — which means much of the settlement cost will ultimately be shouldered by U.S. taxpayers.

News Release | Arizona PIRG Education Fund | Tax

Study: 70% of Fortune 500 Companies Used Tax Havens in 2013

Tax loopholes encouraged more than 70 percent of Fortune 500 companies – including Avnet and Insight Enterprises in Arizona  – to maintain subsidiaries in offshore tax havens as of 2013, according to “Offshore Shell Games,” released today by the Arizona PIRG Education Fund and Citizens For Tax Justice. Collectively, the companies reported booking nearly $2 trillion offshore for tax purposes, with just 30 companies accounting for 62 percent of the total, or $1.2 trillion.

Report | Arizona PIRG Education Fund | Tax

Offshore Shell Games 2014

Many large U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens – countries with minimal or no taxes. By booking profits to subsidiaries registered in tax havens, multinational corporations are able to avoid an estimated $90 billion in federal income taxes each year. These subsidiaries are often shell companies with few, if any employees, and which engage in little to no real business activity.

News Release | Arizona PIRG Education Fund | Tax

Poll: Public Wants Federal Agencies to Disclose and Restrict Corporate Tax Write Offs for Out-of-Court Settlements

In recent years, public outrage has built as federal agencies have allowed out-of-court settlements for corporate wrongdoing — like BP’s gulf oil spill and JPMorgan’s toxic mortgages — to be written off for multibillion-dollar tax breaks. A new poll confirms what has long been apparent: The public overwhelmingly disapproves of these write offs, and has a strong preference for federal agencies to be both more transparent and more restrictive of tax deductions for future settlements.

Report | Arizona PIRG Education Fund | Tax

Following the Money 2014

This report, Arizona PIRG Education Fund’s fifth annual evaluation of state transparency websites, finds that states are making progress toward comprehensive, one-stop, one-click transparency and accountability for state government spending. But many states, including Arizona, have a long way to go to provide taxpayers with the information they need to ensure that government is spending their money effectively.

News Release | Arizona PIRG Education Fund | Tax

New Report: Arizona Receives a ‘B’ in Annual Report on Government Spending Transparency

 

According to a new report, Arizona performs well when it comes to government spending transparency, but has room for improvement. Arizona received a ‘B’ in the fifth annual Arizona PIRG Education Fund spending transparency report, Following the Money 2014: How the States Rank on Providing Online Access to Government Spending Data.

 

News Release | Arizona PIRG | Tax

Bipartisan Legislation would make Arizona’s Economic Development Subsidies More Transparent

The State of Arizona spent nearly $100M of taxpayer money on corporate tax credits intended to stimulate economic development in 2011, but the public received no information about the results of these programs or which companies received the tax credits. A new bill, House Bill 2586, would require disclosure of the recipients of these tax credits, and it has bi-partisan support from a number of lawmakers and Arizona PIRG.

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