ITEP

Informing the debate on tax policy nationwide with research and data-driven solutions.

[ITEP @iteptweets]

Microsoft’s latest disclosure shows the extent of the company’s offshore tax avoidance.

Just 3% of the company’s employees in Ireland managed to generate 38% of worldwide profits.

In Luxembourg, 34 Microsoft employees “earned” $283 million in profits. https://t.co/PHkHoNlq6B

[ITEP @iteptweets]

https://t.co/QsfxzsakOU

[ITEP @iteptweets]

34 states now have their own Child Tax Credit or EITC.

This year, Rhode Island became the 16th state with a Child Tax Credit. Several other states also expanded or strengthened their credits.

These investments came from preserving or generating new revenue.

[ITEP @iteptweets]

What can a $0 corporate tax bill buy?

The 88 corporations that paid zero federal income tax in 2025 spent nearly $852 million on political influence over the last three election cycles – a 3,000% return on investment according to @Public_Citizen.
https://t.co/KIDPTZ7Dms

[ITEP @iteptweets]

Meanwhile, more state lawmakers are reconsidering their tax breaks for data centers due to the enormous costs.
https://t.co/Ke5w6pjgnn

[ITEP @iteptweets]

Virginia will now tax data centers on their energy consumption, as lawmakers are beginning to shift away from offering enormous subsidies to data centers.

This move is expected to raise $600 million in new revenue per year.
https://t.co/GABJ1r7ohT

[ITEP @iteptweets]

The American tax code has spent its history widening the racial wealth gap, not closing it.

It's time to confront how tax policy has shaped inequality and build a fairer future.
https://t.co/9U4ouLNMHv

[ITEP @iteptweets]

More states are moving to tax the rich, from new taxes on incomes exceeding $1 million to luxury second homes.

Not only are they funding public services in a fairer way, but they are helping offset recent federal actions that have done the opposite.
https://t.co/3gOTPA0V2A

[ITEP @iteptweets]

Last night, New Jersey lawmakers approved a 25% increase to the state's Child Tax Credit, boosting the maximum benefit to $1,250 for the lowest-income families with young children.
https://t.co/rXtelaqQuD

[ITEP @iteptweets]

New corporate transparency rules are giving us a clearer picture of offshore tax havens.

Microsoft’s latest disclosure shows just 3% of the company’s full-time employees were in Ireland last year, but they somehow generated 38% of worldwide profits.
https://t.co/PHkHoNlq6B

[ITEP @iteptweets]

States often adopt federal tax changes into their own tax codes with little debate.

But that's not the case with OBBBA, as most states are declining to incorporate significant parts of the new law a year since it passed.
https://t.co/EXkl1W89Ij

[ITEP @iteptweets]

ITINs exist so people can comply with tax laws and pay the taxes they owe. If taxpayers believe information provided for tax filing can be repurposed for immigration enforcement, it risks undermining trust, compliance, and the integrity of our tax system.

https://t.co/UQCAjdTUW9

[ITEP @iteptweets]

https://t.co/36E3QZPEm7

[ITEP @iteptweets]

DACA recipients have long paid income taxes under the same rules as other taxpayers.

But the Treasury Department wants to change that by hacking away at the tax credits they can claim.

Affected families stand to take a hit totaling 12% of their average annual income.

[Democracy Journal @DemJournal]

“Corporate tax reforms could be more resilient than proposals to tax wealth or unrealized capital gains while achieving the same goal of more adequately taxing the income of billionaires,” writes @iteptweets’s Steve Wamhoff and Amy Hanauer.
https://t.co/3r49etHV2N

[ITEP @iteptweets]

As we wrote last year, a win for Coca-Cola would be a win for corporate tax avoidance, leaving taxpayers to pick up the bill.
https://t.co/baAwuks4BR

[ITEP @iteptweets]

“If you’re not going to police this sort of tax avoidance, when are you going to do it?”

Our Senior Fellow Matthew Gardner explains why Coca-Cola's aggressive use of offshore tax havens has led to a tax penalty that could approach $20 billion.
https://t.co/0ZCNa2qDCq

[ITEP @iteptweets]

The path to taxing billionaires starts with where their wealth is created: corporations.

A stronger corporate tax system can raise revenue, reduce inequality, and deliver lasting benefits.
https://t.co/rtZvOaNx8j

[ITEP @iteptweets]

If we’re serious about honoring the legacy of Juneteenth, we must move beyond commemoration to transformation.

That means building a tax system and an economy that works for everyone, not just the privileged few.
https://t.co/MIQEinYGax

[ITEP @iteptweets]

https://t.co/yPP0KXyUMf

[ITEP @iteptweets]

The Treasury wants to bar more lawfully present immigrants from tax breaks that support working families and reduce poverty.

As many as 30 states are at risk of seeing their tax credits weakened unless lawmakers opt out of these proposed restrictions.