Tax Policy Center

corporate inversions

: TaxVox

Rules, Reform, Taxes and Wealth: No Harm in Trying?

Maybe the duck will walk again? Lawmakers are putting down their markers on anti-inversion legislation. Top Senate Democrats Dick Durbin and Chuck Schumer have introduced a bill to curb “earnings-stripping” by multinational corporations—a practice where firms maximize U.S. tax deductions for
September 11, 2014Renu Zaretsky
: TaxVox

Inversions, Loopholes, Taxes and TIFs: What’s a Revenue Service to Do?

Inversions: The waiting is the hardest part. At yesterday’s TPC event Treasury Secretary Jack Lew promised an anti-inversion decision “soon,” but committed to no other details . While everybody agrees corporate inversions are done largely to avoid taxes, does Treasury have the authority to prevent
September 9, 2014Renu Zaretsky
: TaxVox

Business Tax Reform: Will Patience Be a Vice?

Treasury speaks on business tax reform at TPC. Tune in this morning. Treasury Secretary Jack Lew will address business tax reform and will be followed by a panel discussion on corporate inversions, a US tax avoidance strategy. The panel includes Sally Katzen of the NYU School of Law, TPC’s Steven
September 8, 2014Renu Zaretsky
Individual Taxes: TaxVox

Can Obama slow corporate inversions? Yes he can.

Politicians can debate whether corporate tax inversions are “unpatriotic” or simply a legitimate technique to reduce taxes--and commentators can argue over whether anything should be done to stop them. Experts also disagree about whether President Obama and his Treasury Secretary have the legal
August 15, 2014Steven M. Rosenthal
: TaxVox

August Avoidance: Corporate Taxes and Budget Realities

Congress is in recess. The Daily Deduction will return to its regular schedule on Monday, September 8. Until then: We’ll see you every Monday morning. Walgreen might be the only one who’s tired of talking about inversions. The Illinois-based drugstore chain plans to keep its tax base in the US
August 11, 2014Renu Zaretsky
: TaxVox

What’s Love Got to Do with It? Not Much, in Congress

The Senate won’t “Bring Home Jobs…” at least not through the bill that would have denied tax deductions for costs of moving corporations out of the country. The Bring Home Jobs Act needed 60 votes to pass but received only 54. The House GOP may vote to put the estate tax to death. They’ve been
July 31, 2014Renu Zaretsky
: TaxVox

A Showdown, Some Backlash and Big Bets

The Highway Trust Fund is almost out of gas. Congress leaves for its month-long recess on Friday, but without legislative action the fund will run out in August. The Senate is expected to vote on the amended bill this week, though it needs 60 votes to pass. Senate Majority Leader Harry Reid had
July 28, 2014Renu Zaretsky
: TaxVox

ACA Tax Subsidies Face Risk; IRS Enforcement Is Overtaxed

Two appeals courts deliver opposing rulings on Affordable Care Act tax subsidies. The DC Circuit Court ruled yesterday that the tax credits can only go to residents in states that run their own health exchanges. In Richmond, VA, the 4th Circuit Court said the ACA language isn’t clear, so the tax
July 23, 2014Renu Zaretsky
: TaxVox

Baskets of Billions, Inversions and Revenues

Did banks help a hedge fund avoid $6.8 billion in US taxes? Yes, according to the Senate Homeland Security and Government Affairs panel’s Permanent Subcommittee on Investigations. Its report, released in advance of this morning’s hearing, argues that “basket option structures” were designed to
July 22, 2014Renu Zaretsky
: TaxVox

A Ditch, an Add, and Maybe an End Run

Australia repeals its two-year-old carbon tax. It’s been a contentious issue for seven years. Australia is one of the biggest producers of carbon emissions per capita. Its government is committed to reducing emissions to 5 percent below year 2000 levels by 2020. A carbon tax might have been the
July 18, 2014Renu Zaretsky