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December 25, 2013

Shocking Tax Cheats, Fraud and Avoidance in America (Infographic)

$3.09 trillion: Estimated collective cost of tax evasion over the last decade in U.S.
$5 billion: amount a year lost from fraudulent tax refund claims.

Some of the Corporate Tax Avoiders (in business, it’s all legal)

  • General Electric:  $81 billion in profits over last five years; 0 taxes paid; $3 billion refund 
  • Verizon: $48 billion in profits; 0 taxes paid
  • Kraft Foods: $13.5 billion in profits; 0 taxes 
  • Dow Chemicals: $11 billion in profits; Received a refund 
  • All State: $3 billion; 0 taxes, received a refund

More eye-opening numbers from the infographic below:

Tax Fraud and Cheats
Source: Online-Accounting-Degrees.net The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters. © EconMatters All Rights Reserved | Facebook | Twitter | Post Alert | Kindle
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