Tax

Report | Arizona PIRG Education Fund | Tax

The Hidden Cost of Offshore Tax Havens

When U.S. corporations and wealthy individuals use offshore tax havens to avoid paying taxes to the federal government, it is an abuse of our tax system. Tax haven abusers benefit from our markets, infrastructure, educated workforce, and security, but they pay next to nothing for these benefits. Ultimately, taxpayers must pick up the tab, either in the form of higher taxes, cuts to public spending priorities, or increased national debt.

News Release | Arizona PIRG Education Fund | Tax

Report Exposes How Taxpayers Bear Cost of Corporate Settlements

A new report spotlights a common practice where corporations that commit wrongdoing and agree to financial settlements with the federal government can claim such settlement payments as tax-deductible business expenses.

Report | Arizona PIRG Education Fund | Tax

Subsidizing Bad Behavior

Corporations accused of wrongdoing commonly settle legal disputes with government regulators out of court. Doing so allows both the company and the government to avoid going to trial and the agency gets to appear as if it is teaching the company a lesson for its misdeeds. However, very often the corporations deduct the costs of the settlement on their taxes as an ordinary business expense, shifting a significant portion of the burden onto ordinary taxpayers to pick up the tab.

News Release | Arizona PIRG Education Fund | Tax

This Time, Taxpayers Shoulder None of $4.5 Billion BP Settlement Deal

In great news for taxpayers, unlike earlier settlements from the Gulf Oil spill, the settlement the U.S. Justice Department negotiated with BP stipulated that none of the penalties paid are tax-deductible.

News Release | Arizona PIRG | Tax

U.S. Senate Finance Votes to Extend Expensive Offshore Tax Loopholes

With only one day’s notice to the public, the U.S. Senate Committee on Finance approved a package of tax “extenders” that included two provisions that will force taxpayers to pick up a $12.7 billion tab over the next two years by reinstating expired loopholes and tax preferences that allow some multinational companies to shift income offshore and avoid U.S. taxes.

News Release | Arizona PIRG | Tax

U.S. SENATE VOTE ON FARM BILL A DISAPPOINTMENT; TAXPAYER DOLLARS STILL GOING TO BIG AG

The Arizona Public Interest Research Group (Arizona PIRG) is disappointed in the Senate’s approval of the 2012 Farm Bill, which will send tens of billions of taxpayer dollars to Big Ag. The Senate missed a golden opportunity to tackle the problem of wasteful agricultural subsidies, which have cost taxpayers $260 billion since 1995.  Instead, this bill recommits to taxpayer support for the largest agribusinesses.

News Release | Arizona PIRG | Tax

Flawed Farm Bill Heads Towards U.S. Senate Floor

The U.S. Senate is moving to vote on the farm bill, S.3240 that would continue the current system of agricultural subsidies to large, profitable, agribusiness. If passed as is, taxpayers’ hard earned dollars will be handed out needlessly in the billions. And subsidies will continue for corn and soy, which is then processed into junk food ingredients, like high fructose corn syrup, accelerating the obesity epidemic in America.

Farm Bill Could Sow Seeds for Obesity

By | Serena Unrein
Public Interest Advocate

When Congress turns to reauthorizing the federal Farm Bill this summer, you might think that only farmers or people from farm states should care. But in reality, the decisions they make impact all of us, because there’s a real risk Congress will maintain a broken status quo that lavishes taxpayer dollars on the junk food ingredients that are helping to fuel the obesity epidemic.

News Release | Arizona PIRG | Tax

U.S. SENATE COMMITTEE APPROVES NEW TAXPAYER GIVEAWAYS TO BIG AG

This year’s Farm Bill is a golden opportunity to end these wasteful subsidies and get our food policy right.  Unfortunately, while the legislation approved by the Senate Agriculture Committee does make a few positive steps, like ending the egregious Direct Payments program, it would further entrench the equally wasteful crop insurance program, which has cost taxpayers $30 billion over the last decade. And it would create a costly new subsidy scheme that would lock in currently-high corn and soy prices and once again direct billions of taxpayer dollars to giant agribusinesses.

News Release | Arizona PIRG | Tax

Offshore Tax Havens Cost Average Arizona Taxpayer $297 a Year, Average Arizona Small Business $1,525

With tax day approaching, a new study released by the Arizona Public Interest Research Group (Arizona PIRG) found that the average Arizona taxpayer in 2011 would have to shoulder an extra $297 tax burden make up for revenue lost from corporations and wealthy individuals shifting income to offshore tax havens.

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