cancel
Showing results for 
Search instead for 
Did you mean: 
r3020
Senior Advisor

Now this is a loophole

This isn't a would of, could of, should of.

 

snip-

More recently, for tax year 2014, The New York Times paid no taxes and got an income tax refund of $3.5 million even though they had a pre-tax profit of $29.9 million in 2014. In other words, their post-tax profit was higher than their pre-tax profit. The explanation in their 2014 annual report is, “The effective tax rate for 2014 was favorably affected by approximately $21.1 million for the reversal of reserves for uncertain tax positions due to the lapse of applicable statutes of limitations.” If you don’t think it took fancy accountants and tax lawyers to make that happen, read the statement again.

 

http://www.forbes.com/sites/jeffreydorfman/2016/01/31/new-york-times-hypocrisy-on-corporate-taxes-re...

1 Reply
Edmund55
Senior Contributor

Re: Now this is a loophole

(This isn't a would of, could of, should of.

 

snip-

More recently, for tax year 2014, The New York Times paid no taxes and got an income tax refund of $3.5 million even though they had a pre-tax profit of $29.9 million in 2014. In other words, their post-tax profit was higher than their pre-tax profit. The explanation in their 2014 annual report is, “The effective tax rate for 2014 was favorably affected by approximately $21.1 million for the reversal of reserves for uncertain tax positions due to the lapse of applicable statutes of limitations.” If you don’t think it took fancy accountants and tax lawyers to make that happen, read the statement again.)

 

This cannot be accurate, the nutty left Clinton supporting NY Times write's a negative article disparaging Donald Trump for not paying Federal taxes, and it turns out the NY Times did not pay any Federal taxes.  The NY Times could now avoid paying any Federal taxes for the next 20 years.  I just find this so hard to believe, there just cannot be this much hypocrisy at a supposed respected publication.