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In 1996 the treasury department tried to simplify the U.S tax code, which by doing so made a big loophole in the system allowing companies to avoid federal taxes.

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Related Questions

Do your race have any bearing on your federal income taxes?

Race does not have any bearing on US Federal income taxes.


Who doesn't have to pay taxes in the US?

Non US citizens who do not work for a US company or live in the US. Huge multinational companies who can afford to hire accountants to avoid paying tax


Who fund US?

Anyone who pays federal taxes.


What is the general term for all taxes paid to the national government in the US?

federal taxes. ---PLATO


Who funds US Army?

Anyone who pays federal taxes.


What is the federal agency responsible for collecting taxes?

Where? In the US its the IRS.


What do large US cororations pay in Federal income taxes?

what do large US corporations pay in Federal income tax


Where do state governments get income?

It depends on the state.Individual and business income taxes, sales taxes, use taxes, property taxes, excise taxes, fuel taxes, road taxes, professional licensing fees, entertainment taxes, casino taxes -- the possibilities are nearly endless.Let us not forget the taxes we pay to the federal government that the federal government pays to the state governments so they'll do what the federal government wants them to do.


Federalism in A SENTENCE?

In US, when you pay income taxes, you support the federal government.


Do puerto ricans who work in US but are not citizens pay taxes in US?

All puerto ricans are us citizen since 1917 and if they live in the states they have to to pay federal taxes.


How do US citizens pay for services such as police and firefighters and public schools?

State taxes, including - but not limited to - state income taxes, sales taxes, property taxes, etc. Some money collected by the federal government through federal taxes will also be returned to the state.


How can one avoid to owe back taxes in the US?

In order to avoid back taxes in the United States taxpayers are encouraged to pay off their taxes when owed, traditionally around April 15 of every year.

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