Current Us Tax Brackets 2020
Current Us Tax Brackets 2020 our verify team works nonstop to answer questions and claims you see in your day-to-day life today with conversations around tax day we're hearing claims that, 60 of our country's biggest companies didn't pay a dime in federal income tax Jason Puckett is digging into this to verify whether that is true or not tax day itself is a trending topic.
On social media and among the posts of long. Lines and tax questions there's a repeated claim more than 60 of our nation's biggest corporations paid zero dollars in income tax in 2018 here's a post from Democratic.
Presidential candidate Bernie Sanders campaign claiming more specifically that those 60 companies avoided all federal income taxes, in 2018 is that true let's, verify our sources our research from the Institute on taxation and economic policy and public tax records for several of the companies listed in the post so nonprofit.
ITap gathered the SEC filings for 60 US companies the Form 10-k czar public documents showing a company's income and estimated taxes now iTap made, a chart comparing the reported revenue to their federal taxes for all 60 in every case the companies paid zero in federal taxes and fat with.
All 60 combined they saw.
Tax rebates totally 4.3 billion I SEP estimated that had all those companies paid the current 21 percent corporate tax rate it would have generated about 16 billion in taxes, so this photo being shared by the Sanders campaign and referenced on social media is verified, the sixty US companies listed here did not pay any federal income taxes last year but it's important to add.
A little context while these companies didn't pay federal taxes, in the u.s. that doesn't mean they didn't pay any taxes Netflix for instance their Form 10-k shows more than a hundred thirty million in taxes in 2018 but not to the u.s. those were, all paid internationally so how do companies do this well we can't directly know the public forms don't show how companies break, down their taxes but, companies can file for a number of tax breaks it's also important to note that whatever way this is being used. Politically the companies did at legal with your verify i'm jason puckett .