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Untaxed millionaires in US use gifts to dodge taxes
Treasury study finds 21 individuals with adjusted gross incomes over $1 million paid no federal income tax last year by large charitable gifts and depreciation. The piece explains how gifting and tax rules can yield zero taxable income, with examples of deductions and potential reforms discussed in Congress.
MENTIONED IN THIS ARTICLE
U.S
Washington
United States
Treasury Department
Rich Foundation
Treasury
Joseph W. Barr
Congress
Capitol Hill