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Posts Tagged ‘federal income tax’

Corporate Tax Evasion Costing Over $100 Billion a Year: Study

Approximately two-thirds of U.S. corporations did not pay any federal income tax from 2006 to 2012, the Government Accountability Office said in a release. In 2012, 42.5% of large businesses did not pay federal taxes. These statistics speak volumes about how corporations use loopholes in the tax code to legally evade paying taxes in the U.S. Recent disclosures reveal that the use of tax havens and ...

How Much Does an Average American Pay in Taxes

The 2016 tax filing season is over, and most taxpayers are finished with their annual tax duty. Those that have obtained an extension to file have until October 17, 2016 to file their returns and pay any balance due. The Motley Fool shares how much an average American family pays in federal taxes, including income tax, payroll tax, and excise taxes on goods like gasoline and cigarettes:

Are the Super-Rich Paying Even Lower Taxes?

June 09, 2015  |   Tax News   |   Tags: , ,  

The United States has a progressive tax system, which means that taxpayers that earn more pay more in taxes. Lower income groups get certain tax benefits that help them save on taxes, such as the Earned Income Tax Credit. Traditionally, statistics reveal that the super-rich pay less in taxes. New data from the IRS shows the percentage of tax individuals in different income groups pay.