Close Corporate Tax Loopholes Updates

News Release | CoPIRG | Tax

Offshore Tax Havens Cost Average Colorado Taxpayer $1,361

As hardworking Americans file their taxes today, it’s a good time to be reminded of how ordinary taxpayers pick up the tab for the loopholes in our tax laws. CoPIRG  released a new study which revealed that the average Colorado taxpayer in 2013 would have to shoulder an extra $1,361 in taxes to make up for the revenue lost due to the use of offshore tax havens by corporations and wealthy individuals.

Report | CoPIRG | Tax

Picking Up the Tab 2014

Every year, corporations and wealthy individuals use complicated gimmicks to shift U.S. earnings to subsidiaries in offshore tax havens – countries with minimal or no taxes – in order to reduce their state and federal income tax liability by billions of dollars. This report looks at the cost of this abuse to taxpayers and small businesses.

Report | CoPIRG | Tax

FACTSHEET: Closing the $15 million loophole

Colorado taxpayers could recover $15 million a year from a simple reform to crack down on offshore tax dodging.

Report | CoPIRG | Tax

Closing the Billion Dollar Loophole

Every year, corporations use complicated gimmicks to shift U.S. earnings to subsidiaries in offshore tax havens – countries with minimal or no taxes – in order to reduce their state and federal income tax liability, costing Coloradans hundreds of millions of dollars every year. Colorado could close one loophole could save $15 million.

News Release | CoPIRG | Tax

Study: Colorado Could Curb Offshore Tax Dodging, Costs Colorado $15 Million

Colorado taxpayers could recover $15 million a year from a simple reform to crack down on offshore tax dodging, according to a new report released today by CoPIRG. The reform, which has already been proven effective in Montana and passed in Oregon, would require companies to treat profits booked to notorious tax havens as domestic taxable income.

Report | CoPIRG | Tax

Picking up the Tab

A new study which reveals that the average Colorado taxpayer in 2012 would have to shoulder an extra $1,183 in taxes to make up for the revenue lost due to the use of offshore tax havens by corporations and wealthy individuals and the average Colorado small business would need to shoulder $2,957

News Release | CoPIRG | Tax

Offshore Tax Havens Cost Average Colorado Taxpayer $1,183 a Year

With Tax Day approaching, CoPIRG was joined today by Zach Hepner, owner of Velosoul Bikes and Marlene Nuechterlien owner of Caboodle Gifts to release a new study which revealed that the average Colorado taxpayer in 2012 would have to shoulder an extra $1,183 in taxes to make up for the revenue lost due to the use of offshore tax havens by corporations and wealthy individuals and the average small business would need to shoulder $2,957.

News Release | CoPIRG | Budget, Tax

NEW LEGISLATION TO CLOSE OFFSHORE TAX LOOPHOLES WOULD SAVE TAXPAYERS $200 BILLION

The CUT Loopholes Act would close a myriad of the most egregious offshore tax loopholes. This legislation is based on the premise that if a U.S. company earns profits here in the U.S., with the benefit of America’s educated workforce, infrastructure, and large consumer base, it should pay taxes in America, like small businesses and everyday taxpayers.

News Release | CoPIRG | Budget, Tax

PRESIDENT OBAMA POSES QUESTION: “WHY PROTECT SPECIAL INTEREST TAX BREAKS?”

Tonight, President Obama rightly called on Congress to close tax loopholes that allow wealthy special interests to shirk their tax burden at the expense of the public. The first loopholes to go should be those that allow corporations and wealthy individuals to use accounting gimmicks to stash their income in offshore tax havens.

Report | CoPIRG Foundation | Budget, Tax

The Hidden Cost of Offshore Tax Havens

In 2011, Colorado lost approximately $504 million in tax revenues from corporations and wealthy individuals who sheltered money in foreign tax havens. Multinational corporations account for more than $310 million of the lost tax revenue, and wealthy individuals account for the rest.

Pages

Priority Action

The overuse of antibiotics on factory farms is threatening the effectiveness of lifesaving antibiotics. Call on the Obama administration to put an end to the worst practices.

consumer alerts

Join our network and stay up to date on our campaigns, get important consumer updates and take action on critical issues.

support us

Your donation supports CoPIRG's work to stand up for consumers on the issues that matter, especially when powerful interests are blocking progress.