Palantir reported $1.5 billion of U.S. income but paid exactly zero federal income tax in 2025. Tax breaks from Trump's tax law helped the company avoid paying federal tax, with Palantir reducing its taxes by over $400 million using the "One Big Beautiful Bill" provision that allows immediate deduction of research expenses. The surveillance angle is real: the company received $113 million in federal funding from January to May 2025 including contracts for ICE immigrant tracking systems. What's missing is context on the broader landscape — at least 88 large profitable U.S. corporations paid zero federal income tax in 2025, with corporate tax avoidance increasing due to Trump's tax cuts.