Donald Trump did not appear to donate his salary from his last 6 months in office as promised, says report
ProPublica: The Number Of People With IRAs Worth $5 Million Or More Has Tripled, Congress Says
Following up on my previous posts (links below): ProPublica, The Number of People With IRAs Worth $5 Million or More Has Tripled, Congress Says:
The number of multimillion-dollar individual retirement accounts has soared in the past decade, as more wealthy Americans use the tax-advantaged vehicles to shield fortunes from income taxes, according to new data released by Congress today.
The data reveals for the first time the staggering amount of money socked away in tax-free mega Roth accounts: more than $15 billion held by just 156 Americans.
Prior TaxProf Blog coverage:
- ProPublica: America's Richest People Pay Little To Nothing In Federal Income Taxes (June 8, 2021)
- Dorothy Brown And David Cay Johnston Discuss Yesterday's ProPublica's Report On The Tax Secrets Of The .001% (June 9, 2021)
- Dorothy Brown On The ProPublica Tax Report, Racial Justice, And The Gig Economy (June 14, 2021)
- ProPublica: How Peter Thiel Turned $2,000 In A Roth IRA Into $5,000,000,000 (June 28, 2021)
- ProPublica: The Billionaire Playbook — How Sports Owners Use Their Teams To Avoid Millions In Taxes (July 12, 2021)
David R. Agrawal (Kentucky) & Kenneth Tester (Kentucky), The Effect of Taxes on Where Superstars Work:
Prior studies show that taxes matter for the residential locations of high-income earners. But, states raise a significant share of income taxes from nonresidents, especially superstars. Using superstar athletes and variation in state tax rates, we provide causal evidence on the effect of the net-of-participation tax rate on the location of labor supply.
- A Policy Paper prepared for the UK Labour Party - Reforming the Auditing Industry
- A Policy Paper prepared for the UK Labour Party - Regulatory Architecture To Enhance Democracy And Business Accountability
- Google, Apple and Microsoft report record-breaking profits (28 Jul 2021)
- Sharp drop in senior accounting officer tax penalties (28 Jul 2021)
- Failure to help poor countries fight Covid ‘could cost global economy $4.5tn’, says IMF (27 Jul 2021)
- Russia to Pay 1.1Bln Euros Per Year Under EU Carbon Tax (26 Jul 2021)
- Swedish drinks firm Kopparberg sues HMRC over tax loophole (26 Jul 2021)
- Bonanzas in private equity world spark call for tax relief limit (22 Jul 2021)
- The long and winding road to global corporate tax justice (22 Jul 2021)
- New proposals to clamp down on promoters of tax avoidance (20 Jul 2021)
- Do the accounts of major companies add up when it comes to tax? (19 Jul 2021)
- Tax in the accounts of Tesco plc (19 Jul 2021)
- Ministers mull national insurance rise to fund social care (19 Jul 2021)
- Keir Starmer, it’s time we had a frank discussion about tax (17 Jul 2021)
- No 10 hammers out plan to fix UK social care system with tax rise (16 Jul 2021)
- G-20’s global crackdown could create a new kind of tax haven (16 Jul2021)
- Nike fails to stop EU probe on billions in alleged tax dodging (15 Jul 2021)
- Powering ideas through expertise: professionals in global tax battles (13 Jul 2021)
- Tax haven firms investing in Scotland (13 Jul 2021)
When work weighs you down, take a ‘sad day’
Australians could get COVID-19 vaccinations at drive through-sites like stadiums, shopping centres or schools, according to a new plan released by the federal government.
The Prime Minister announced Operation COVID Shield in June, and now some of the details about what it entails have been released.