It Just Isn't Fair

It Just Isn't Fair

The Government Accountability Office recently released a report on how much government revenue is left on the table because of "special tax provisions that are exceptions to the normal structure of the corporate income tax system." ...

The headline producing data in the report was that revenue loss - about $181 billion - from corporate tax expenditures in 2011 was "approximately the same size as the amount of corporate income tax revenue the federal government collected that year." ...

I think the more interesting data from the report was that the largest corporate tax expenditure was deferral (there's that word again) on income of U.S. multinational corporations held by overseas subsidiaries...

This game of deferral is only for the very few and only for the very sophisticated and their very, very sophisticated tax advisers. This is not a game of penny-ante stakes. To play at this table requires serious dough. But the odds are in your favor once you're in the game. Because the game is fixed....

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View Chris Bergin's opinion in its entirety on the taxanalysts® Blog.

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