US billionaires’ declarations leaked: ‘a few paid little or no tax’ Financial

The documents relate to the tax returns of the 25 richest Americans. Some of the wealthiest Americans “paid little to no taxes relative to their vast wealth—sometimes they paid nothing,” says ProPublica.

The report includes data from Amazon founder Jeff Bezos and SpaceX founder Elon Musk. Bezos, the richest man in the world, is said to have paid no income tax at all in 2007 and 2011. That was the case for Musk in 2018. Also mentioned are former New York City Mayor Michael Bloomberg and investors George Soros and Waren Buffet.

Leaking tax returns

According to the research platform, the billionaires were not illegally filing their taxes, but were using tax avoidance strategies “that are beyond the reach of normal people.”

The US Treasury Department and other authorities are investigating how the tax returns were leaked. The ministry says it is illegal to disclose confidential government information without permission. The FBI and federal prosecutors in Washington have also been informed.

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