Congress outlawed tax deductions on “wash sales” in 1921, but Goldman Sachs and others have helped billionaires like Steve Ballmer see huge tax savings by selling stocks for a loss and then replacing them with nearly identical investments.
Congress outlawed tax deductions on “wash sales” in 1921, but Goldman Sachs and others have helped billionaires like Steve Ballmer see huge tax savings by selling stocks for a loss and then replacing them with nearly identical investments.
ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.
After a year of reporting on the tax machinations of the ultrawealthy, ProPublica spotlights the top tax-avoidance techniques that provide massive benefits to billionaires.
In the early 1900s some of the wealthiest Americans claimed their fortunes would never last through the generations. A century of tax avoidance later, the dynasties are going strong.
by Patricia Callahan, James Bandler, Justin Elliott, Doris Burke and Jeff Ernsthausen
Secret IRS files reveal the top US income earners and how their tax rates vary more than their incomes. Tech titans, hedge fund managers and heirs dominate the list, while the likes of Taylor Swift and LeBron James didn’t even make the top 400.
by Paul Kiel, Ash Ngu, Jesse Eisinger and Jeff Ernsthausen
Roth IRAs were intended to help average working Americans save, but IRS records show Thiel and other ultrawealthy investors have used them to amass vast untaxed fortunes.
by Justin Elliott, Patricia Callahan and James Bandler
The proposed legislation comes after an investigation by ProPublica, The Texas Tribune and The Washington Post revealed that communication lapses among medical crews further delayed treatment for victims at Robb Elementary.
by Lomi Kriel, ProPublica and The Texas Tribune, and Alejandro Serrano, The Texas Tribune
Gallup-McKinley County Schools Superintendent Mike Hyatt told the Gallup Sun our findings about Native American student discipline are wrong. This is our response.
by Marjorie Childress, New Mexico In Depth, and Steve Myers, ProPublica
In the first full legislative session after Roe v. Wade was overturned, states across the country are looking to further restrict or better protect abortion rights. ProPublica looked at what abortion legislation is on the table in 2023.
For the second time, the Army Corps of Engineers has reprimanded a Louisiana developer for its failure to offer an adequate assessment of the impact that its $400 million project would have on neighboring Black communities and historic sites.
Here’s a timeline of some of the scandals and accusations that have hit the seat of government in Alaska’s largest city since Mayor Dave Bronson took office in July 2021.
by Kyle Hopkins and Emily Goodykoontz, Anchorage Daily News
A ProPublica-New York Times Magazine story exposed a system with few legal protections for families. A first-of-its-kind bill aims to provide parents with free counsel when child protection workers try to move their kids without going to court.
Was this email forwarded to you from a friend?
Subscribe.
Want less email? Click here if you only want to receive one ProPublica newsletter each week.
This email was sent to [email protected]. Update your
email preferences or unsubscribe
to stop receiving this newsletter. Email not displaying correctly?
View it in your browser.