Taxpayers Owe More In Taxes, While Corporations Get Refunds
February 20, 2019
While millions of American taxpayers receive tax refunds that are less than they expected or even have to pay more in taxes this filing season, big corporations owe zero or very little in taxes — or are actually due a refund.
Taxpayers are receiving tax refunds that are less than expected, or even having to pay more in taxes.
Washington Post: “Millions of Americans filling out their 2018 taxes will probably be surprised to learn that their refunds will be less than expected or that they owe money to the Internal Revenue Service after years of receiving refunds.”
Meanwhile, many big corporations owe zero to very little in taxes, or are actually due a tax refund, in the first year under Trump’s tax law.
Axios: “Fortune 500 companies have begun to file their annual regulatory reports, and a pattern is emerging. After the Trump tax cut, an outsized number, led by giants like Amazon, GM and Halliburton, owe zero or very little in 2018 U.S. income taxes — or are actually due a refund.”