Monday, April 9, 2012

Companies use popular provision to avoid income taxes ? Forex ...

on April 9, 2012 8:35 pm in Business News / no comments

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Women walk out of an Internal Revenue Service office in New YorkWASHINGTON (Reuters) - More than two dozen Fortune 500 companies paid no U.S. federal income taxes in recent years partly because of a corporate tax break that is broadly supported by Republicans and Democrats alike, a consumer group said on Monday. In at least half of the cases cited by the group, companies made use of accelerated depreciation, a tax provision that allows increased deductions in the early years of the life of an asset. Citizens for Tax Justice, which advocates steeper corporate taxes, said it surveyed major U.S. ...

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