The state tax arena is filled with variation, complexity, confusion and ambiguity, which has major implications for U.S. corporations, according to findings from Bloomberg BNAs 2016 Survey of State Tax Departments, conducted for the 16th consecutive year.
National tax preparation chains are exploiting the working poor by forcing them to spend a significant portion of the Earned Income Tax Credit just to pay for filing their taxes, according to a new report, and H&R Block is firing back.
Large, profitable American corporations paid only 14 percent of their profits in federal income taxes on average from 2008 through 2012, and approximately one-fifth of them paid nothing at all in each of those years, according to a new government report commissioned by Sen. Bernie Sanders.
Tax Freedom Day, the day when the nation as a whole has earned enough to pay the federal, state, and local tax bill for year, will arrive 114 days into the year on April 24, according to an annual report from the Tax Foundation.
A lot of Americans feel like they're getting cheated at tax time. In a Pew Research Center poll last year, 61 percent said it bothered them "a lot" that "some wealthy people don't pay their fair share."