Who Wins When a Crucial Agency Is DefundedProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive as soon as they’re published.It’s been almost 10 years since Republicans, riding the Tea Party wave, took control of the House of Representatives and started hacking at the IRS’ enforcement budget. Down it went, some years the cuts were steep, some not, as Republican lawmakers about the consequences of letting tax cheats run free.For the past couple years, ProPublica has been the descent of the IRS. We’ve watched as audits of and have plummeted and become less...…Who Wins When a Crucial Agency Is DefundedProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive as soon as they’re published.It’s been almost 10 years since Republicans, riding the Tea Party wave, took control of the House of Representatives and started hacking at the IRS’ enforcement budget. Down it went, some years the cuts were steep, some not, as Republican lawmakers about the consequences of letting tax cheats run free.For the past couple years, ProPublica has been the descent of the IRS. We’ve watched as audits of and have plummeted and become less...WW…

Fiscal Responses to COVID-19ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive as soon as they’re published.The Paycheck Protection Program was launched to rescue the little guy, the millions of small businesses without the deep pockets needed to survive the COVID-19 shock.But among the restaurants, dentists and mom-and-pops was , a chain of hospitals and therapy centers spread across 19 states with over 9,000 employees. The biggest PPP loan was supposed to be $10 million, but Vibra found a way to land as much as $97 million.Subscribe to the Big Story...…Fiscal Responses to COVID-19ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive as soon as they’re published.The Paycheck Protection Program was launched to rescue the little guy, the millions of small businesses without the deep pockets needed to survive the COVID-19 shock.But among the restaurants, dentists and mom-and-pops was , a chain of hospitals and therapy centers spread across 19 states with over 9,000 employees. The biggest PPP loan was supposed to be $10 million, but Vibra found a way to land as much as $97 million.Subscribe to the Big Story...WW…

Fiscal Responses to COVID-19ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive as soon as they’re published.Congress has approved billions of dollars of checks for Americans hard hit by the biggest round of layoffs in U.S. history. But millions of Americans will have to wait months for that money — and millions more may never get the money at all.That’s because the rescue legislation left it to the IRS, an agency by Congress, to organize the complex logistics of delivering the money to those entitled to it. As the IRS has struggled, for-profit tax...…Fiscal Responses to COVID-19ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive as soon as they’re published.Congress has approved billions of dollars of checks for Americans hard hit by the biggest round of layoffs in U.S. history. But millions of Americans will have to wait months for that money — and millions more may never get the money at all.That’s because the rescue legislation left it to the IRS, an agency by Congress, to organize the complex logistics of delivering the money to those entitled to it. As the IRS has struggled, for-profit tax...WW…

How the Tax Prep Industry Makes You PayProPublica is a nonprofit newsroom that investigates abuses of power. Sign up for ProPublica’s newsletter to receive stories like this one in your inbox as soon as they are published.Last fall, Intuit’s longtime CEO Brad Smith embarked on a farewell tour of the company’s offices around the world. Smith had presided over 11 years of explosive growth, a period when Intuit had secured its place in the Silicon Valley pantheon, and the tour was like a long party.In Ontario, employees wore T-shirts with Smith’s quasi-spiritual sayings: “Do whatever makes...…How the Tax Prep Industry Makes You PayProPublica is a nonprofit newsroom that investigates abuses of power. Sign up for ProPublica’s newsletter to receive stories like this one in your inbox as soon as they are published.Last fall, Intuit’s longtime CEO Brad Smith embarked on a farewell tour of the company’s offices around the world. Smith had presided over 11 years of explosive growth, a period when Intuit had secured its place in the Silicon Valley pantheon, and the tour was like a long party.In Ontario, employees wore T-shirts with Smith’s quasi-spiritual sayings: “Do whatever makes...WW…

The U.S. Response to COVID-19ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive as soon as they’re published.Within a few weeks, the Federal Reserve will start a $600 billion lending program that the Trump administration will help 40,000 midsized businesses that employ 35 million Americans.The Main Street Lending Program is the next marquee effort of the Coronavirus Aid, Relief and Economic Security Act, which Congress passed in March. It is set to begin after weeks of criticism of the first, the Paycheck Protection Program for small businesses. While...…The U.S. Response to COVID-19ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive as soon as they’re published.Within a few weeks, the Federal Reserve will start a $600 billion lending program that the Trump administration will help 40,000 midsized businesses that employ 35 million Americans.The Main Street Lending Program is the next marquee effort of the Coronavirus Aid, Relief and Economic Security Act, which Congress passed in March. It is set to begin after weeks of criticism of the first, the Paycheck Protection Program for small businesses. While...WW…

ProPublica is a nonprofit newsroom that investigates abuses of power. The Secret IRS Files is an ongoing reporting project. when the next installment publishes.In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a...…ProPublica is a nonprofit newsroom that investigates abuses of power. The Secret IRS Files is an ongoing reporting project. when the next installment publishes.In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a...WW…

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. In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes. Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George...…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. In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes. Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George...WW…

ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive as soon as they’re published.Earlier this year, the pandemic swept across the country, killing 100,000 Americans by the spring, shuttering businesses and schools, and forcing people into their homes. It was a great time to be a debt collector.In August, Encore Capital, the largest debt buyer in the country, announced that it had doubled its previous record for earnings in a quarter. It primarily had the CARES Act to thank: The bill delivered hundreds of billions of dollars worth of stimulus checks and...…ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive as soon as they’re published.Earlier this year, the pandemic swept across the country, killing 100,000 Americans by the spring, shuttering businesses and schools, and forcing people into their homes. It was a great time to be a debt collector.In August, Encore Capital, the largest debt buyer in the country, announced that it had doubled its previous record for earnings in a quarter. It primarily had the CARES Act to thank: The bill delivered hundreds of billions of dollars worth of stimulus checks and...WW…

Who Wins When a Crucial Agency Is DefundedThis story was co-published with The Atlantic.Who Wins When a Crucial Agency Is DefundedAudits and criminal referrals are down sharply since Congress cut the tax agency’s budget and management changed priorities.In the summer of 2008, William Pfeil made a startling discovery: Hundreds of foreign companies that operated in the U.S. weren’t paying U.S. taxes, and his employer, the Internal Revenue Service, had no idea. Under U.S. law, companies that do business in the Gulf of Mexico owe the American government a piece of what they make drilling for...…Who Wins When a Crucial Agency Is DefundedThis story was co-published with The Atlantic.Who Wins When a Crucial Agency Is DefundedAudits and criminal referrals are down sharply since Congress cut the tax agency’s budget and management changed priorities.In the summer of 2008, William Pfeil made a startling discovery: Hundreds of foreign companies that operated in the U.S. weren’t paying U.S. taxes, and his employer, the Internal Revenue Service, had no idea. Under U.S. law, companies that do business in the Gulf of Mexico owe the American government a piece of what they make drilling for...WW…