Never-before-seen IRS records show that CEOs are sometimes making multimillion-dollar bets on the stocks of direct competitors and partners — and doing so with exquisite timing.
Never-before-seen IRS records show that CEOs are sometimes making multimillion-dollar bets on the stocks of direct competitors and partners — and doing so with exquisite timing.
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.
Owners like Steve Ballmer can take the kinds of deductions on team assets — everything from media deals to player contracts — that industrialists take on factory equipment. That helps them pay lower tax rates than players and even stadium workers.
by Robert Faturechi, Justin Elliott and Ellis Simani
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
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.
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.
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
Thoroughbred horses, auto racing, massive ranches, luxury hotels. The hobbies and side businesses of the ultrawealthy create huge write-offs that can let them get away with paying little or no income tax for as much as a decade at a time.
An unprecedented trove of leaked IRS data shows who reported the most income in America from 2013 to 2018, as well as their tax rates, revealing that the very richest pay lower rates than the merely rich.
Reporting from nearly 50 local newsrooms, based on ProPublica’s “Repatriation Project,” has sparked a wave of apologies and commitment to returning ancestral remains. But without funding for the work tribal nations could still face empty promises.
After a league rally was blocked by a new rule, the chapter’s president considers what might come next in a state where Gov. Ron DeSantis is restricting public discourse.
New legislation would require the New Mexico Corrections Department to help schedule parole hearings for prisoners given life sentences as children. But the agency wasn’t aware of at least 21 “juvenile lifers” in its custody.
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