United States federal executive department
How investment firms shield the ultrawealthy from the IRS - ICIJ: An ICIJ investigation examining hundreds of leaked tax forms offers a glimpse into the huge ...
icij.org/inside-icij/2024/04/how-investment-firms-shield-the-ultra-wealthy-from-the-irs/
Quick Glance: How Investment Firms Shield the Ultrawealthy from Tax Authorities
- In 2015, the U.S. Department of Treasury hired economist Owen Zidar to help government officials examine the growing use of complex company structures and trusts by the ultrawealthy. These new investment schemes, often referred to as 'large partnerships,' are pervasive in private equity funds and similar investment firms.
- Following years of budget cuts, it was evident to Owen Zidar, now a professor of economics at Princeton University, that the IRS was not effectively enforcing tax laws for the ultrarich.
- With a significant infusion of funding, the IRS is now making efforts to penetrate these opaque bastions of wealth. An investigation by ICIJ sheds light on the challenges faced by the tax authority in untangling the secretive structures of the ultrawealthy.
- Partnerships play a crucial role in U.S. tax law and have become a focal point for large fortunes, contributing to a poorly understood aspect of growing economic inequality. Despite additional funding for the IRS, addressing large partnerships remains a formidable task.
How investment firms shield the ultrawealthy from the IRS - ICIJ: An ICIJ investigation examining hundreds of leaked tax forms offers a glimpse into the huge ...
icij.org/inside-icij/2024/04/how-investment-firms-shield-the-ultra-wealthy-from-the-irs/
Quick Glance: How Investment Firms Shield the Ultrawealthy from the IRS
- Investment firms create opaque structures for the ultrawealthy.
- The IRS seeks to penetrate the opaque structures of the top 1%.
- The IRS struggles with opaque regulations and lack of information.
- Experts emphasize the need for professionals and transparency in the IRS.
Yellen Says Nothing Off Table in Response to China Overcapacity: Treasury Secretary Janet Yellen said the US wouldn’t take “anything off the table” in response ...
bloomberg.com/news/articles/2024-04-14/yellen-says-nothing-off-table-in-response-to-china-overcapacity
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Tax Day 2024 live updates: From extensions to Child Tax Credit, here's what to know
usatoday.com/story/money/2024/04/15/tax-day-2024-live-updates/73293238007/
US Set to Ring Alarm Bells Over Chinese Industry on World Stage: US Treasury Secretary Janet Yellen warned China’s leaders that the nation’s manufacturing power ...
bloomberg.com/news/articles/2024-04-12/us-set-to-ring-alarm-bells-over-chinese-industry-on-world-stage
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Economic advisers close to Donald Trump are actively debating ways to devalue the U.S. dollar if he gets elected to a second term ... Show more www.politico.com/news/2024/04/15/devaluing-dollar-trump-trade-war-00152009
US Treasury’s Sanctions Office Probes Companies Over Chips in Russia’s War: The Treasury’s sanctions office is investigating several US and foreign companies for ...
bloomberg.com/news/articles/2024-04-12/us-sanctions-office-probes-companies-over-chips-in-russia-s-war
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One Day 10 Years Ago, I Stopped Paying My Taxes. I Don’t Regret a Thing.: I ignored the IRS for an entire decade and got away with it. I think.
slate.com/human-interest/2024/04/taxes-file-pay-2024-stop-paying-irs.html
Bloomberg New Economy: China Heads Down Japan’s Troubled Macro-Policy Path: The argument that China is following in Japan’s three-decade old footsteps down the ...
bloomberg.com/news/newsletters/2024-04-13/bloomberg-new-economy-china-heads-down-japan-s-troubled-macro-policy-path
Janet Yellen: The internet is obsessed with what she eats in China: Ever since she ate mushrooms that can have psychedelic effects in Beijing last July ...
apnews.com/article/yellen-china-us-food-beijing-f4cd5106eb5458ed390d903266e4eb35
Quick Glance: China and U.S. to Engage in Intensive Talks on Economic Balance
- US Treasury Secretary Janet Yellen announced intensive talks with China to address America's competitive disadvantages.
- Both sides will engage in intensive discussions on balanced economic growth and initiate exchanges on combating money laundering.
- Yellen emphasized the importance of addressing American concerns regarding overcapacity in Chinese production.
- The meetings will be held under existing economic and financial working group frameworks to address balanced growth and money laundering.
Today is Tax Day. The IRS expects ‘tens of millions’ of returns to be filed at the last minute
cnn.com/2024/04/15/success/tax-day-2023-tax-returns/
Yellen, China’s He Agree to Talks Aimed at ‘Balanced Growth’: US Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng agreed to set in motion ...
bloomberg.com/news/articles/2024-04-06/yellen-china-s-he-commit-to-talks-focused-on-balanced-growth
Paid articlePaid Cyprus and U.S. to form partnership to combat financial crime - ICIJ: The two countries are finalizing an agreement under which the U.S. Justice Department and ...
icij.org/investigations/cyprus-confidential/cyprus-and-u-s-to-form-partnership-to-combat-financial-crime/
As money moves digital, Denver Mint still coins a pretty penny: At Denver’s Mint, the legacy of money and its future are on display. In an era of online payments ...
csmonitor.com/USA/2024/0415/money-digital-denver-mint-coins-crypto
Paid articlePaid Famed photographer quits Ford board over Liz Cheney snub: David Hume Kennerly wanted the Trump critic honored with the foundation’s top award.
politico.com/news/2024/04/10/david-hume-kennerly-liz-cheney-gerald-ford-foundation-00151480
Yellen Waves Yellow Flag as China’s EV Sector Keeps Up Expansion: China’s leading EV makers and suppliers are pressing ahead in the face of a global slowdown ...
bloomberg.com/news/newsletters/2024-04-08/yellen-waves-yellow-flag-as-china-s-ev-sector-keeps-up-expansion
Treasury Secretary Janet Yellen arrives in China to talk trade, green technology tensions
pbs.org/newshour/politics/treasury-secretary-janet-yellen-arrives-in-china-to-talk-trade-green-technology-tensions
Yellen Threatens Sanctions for China Banks That Aid Russia’s War: US Treasury Secretary Janet Yellen wrapped up four days of talks in China with a warning to the ...
bloomberg.com/news/articles/2024-04-08/yellen-threatens-sanctions-for-china-banks-that-aid-russia-s-war
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US sanctions target Hamas spokesperson, drone program leaders: The United States on Friday issued sanctions aimed at a Hamas spokesperson and leaders of the ...
reuters.com/world/middle-east/us-sanctions-target-hamas-spokesperson-drone-program-leaders-2024-04-12/
Cordial: The Bloomberg Open, Asia Edition: Good morning. Yellen and China's He keep it polite. Beijing is said to step up support to Russia ...
bloomberg.com/news/newsletters/2024-04-07/cordial-the-bloomberg-open-asia-edition
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Senator Warren slams Intuit's 'junk fees' as America's Tax Day rolls around again
theregister.com/2024/04/15/warren_intuit_tax/
‘The 401(k) industry owns Congress’: How lawmakers quietly passed a $300 billion windfall to the wealthy
politico.com/news/2024/04/13/how-your-401k-ate-the-federal-budget-00150319
US Treasury's Adeyemo warns 'malign' actors are using virtual assets: The U.S. Treasury Department fears terrorist groups will increase their use of virtual ...
reut.rs/3JbAZ0P
Compact Fluorescent Bulbs to Be Phased Out Under New Biden Rule: Compact fluorescent light bulbs — once considered corkscrew-shaped emblems of the clean-energy ...
bloomberg.com/news/articles/2024-04-12/new-biden-rule-means-lights-out-for-compact-fluorescent-bulbs
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Thanks to the dollar’s dominance in international finance, America can effectively banish a foreign bank from the global financial system ... Show more www.economist.com/finance-and-economics/2024/04/10/would-america-dare-to-bring-down-a-chinese-bank
Regulators probe Morgan Stanley's vetting process for wealthy clients: One client includes a Russian-linked billionaire who was sanctioned by the UK ...
businessinsider.com/morgan-stanley-sec-probe-wealth-management-billionaire-russia-2024-4
What about China’s overcapacity?: China says its industries are simply more competitive
reut.rs/3Jez5fP
A Guide to Tax Deductions for Charitable Donations: Here's how your philanthropic giving can lower your tax bill.
money.usnews.com/money/personal-finance/taxes/articles/a-guide-to-tax-deductions-for-charitable-contributions
US-China relationship on 'more stable footing,' Yellen says : U.S. Treasury Secretary Janet Yellen has met with Chinese Premier Li Qiang and sent a message of ...
apnews.com/article/treasury-yellen-china-economics-trade-cbeef6b23ffb6c6cf6cb11dab25ed08b
Would America dare to bring down a Chinese bank?: Janet Yellen promises sanctions for those supporting Vladimir Putin’s war
economist.com/finance-and-economics/2024/04/10/would-america-dare-to-bring-down-a-chinese-bank
From @breakingviews: US Treasury Secretary Janet Yellen is the latest to warn about China making more goods than needed domestically ... Show more @mak_robyn www.reuters.com/breakingviews/chinas-overcapacity-is-here-stay-2024-04-09/
After issuing factory capacity warning to China, Yellen faces tariff decisions: U.S. Treasury Secretary Janet Yellen hammered home a stern warning to China's ...
reut.rs/3VVrytY
Five Things You Need to Know to Start Your Day: Asia: Yellen to wrap up four-day China trip. Oil heads for $100 a barrel. Chinese investment into Australia ...
bloomberg.com/news/newsletters/2024-04-07/five-things-you-need-to-know-to-start-your-day-asia
U.S., China agree to hold more talks about economic concerns: The announcement is a very minor step aimed at cooling tensions around overproduction concerns.
axios.com/2024/04/06/us-china-yellen-economy-negotiation
If Trump wins, he plans to free Wall Street from 'burdensome regulations': A second Trump White House would seek to sharply reduce the power of U.S ...
reuters.com/markets/us/if-trump-wins-he-plans-free-wall-street-burdensome-regulations-2024-04-12/
How to file your tax returns: 6 things you should know this year: For something that's legally required, taxes can be confusing. This guide covers the latest ...
npr.org/2023/02/22/1158816222/how-to-prepare-for-tax-season
Quick Glance: Gender Pay Gap in UK Supermarkets and Income Impact
- UK supermarkets are closing gender pay gap, with Morrisons experiencing a rise.
- Ocado and Lidl show the most improvements, while Morrisons has the largest gap.
- Hourly pay differences are reported by government service.
- Equality initiatives and workplace improvements at M&S and Co-op.
US Treasury Seeks More Sanctions Powers Against Crypto Exchanges: The US Treasury Department is asking politicians for more enforcement powers to use against ...
bloomberg.com/news/articles/2024-04-09/us-treasury-seeks-more-sanctions-powers-against-crypto-exchanges
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TaxAct 2024 (Tax Year 2023) Review: TaxAct guides new and experienced users through filing taxes online. Its strengths lie in its simple navigation ...
pcmag.com/reviews/taxact
Yellen Sounds Alarm on China ‘Global Domination’ Industrial Push: US Treasury Secretary Janet Yellen slammed China’s use of subsidies to give its manufacturers ...
bloomberg.com/news/articles/2024-03-27/yellen-sounds-alarm-on-china-roiling-world-with-industry-ramp-up
Paid articlePaidQuick Glance: Yellen Warns of China's 'Global Domination' Industrial Push
- US Treasury Secretary Janet Yellen criticized China's use of subsidies to give its manufacturers in key industries a competitive advantage and plans to address the issue in an upcoming visit.
- Yellen highlighted China's desire to achieve global dominance in electric cars, batteries, and solar energy. She spoke during the reopening of a US solar-cell manufacturing facility in Georgia that closed in 2017 due to cheap imports.
- The US government is not considering retaliatory trade actions against China for subsidies but aims to find constructive solutions. Yellen plans to address the issue of overcapacity in China during her next visit.
- China is experiencing significant growth in new industries like solar, electric vehicles, and lithium-ion batteries. Yellen emphasized the harm to American companies from China's surplus and praised the Biden administration's efforts to build up the domestic renewable energy industry.
$MS | Morgan Stanley's Compliance Efforts Under Spotlight As Federal Regulators Investigate Handling of Wealth Management Clients
The bank is under scrutiny ... Show more
Five Things You Need to Know to Start Your Day: Asia: Good morning. Wells Fargo becomes Wall Street’s biggest equity bull. Yellen offers China a blunt warning ...
bloomberg.com/news/newsletters/2024-04-08/five-things-you-need-to-know-to-start-your-day-asia
U.S., China to hold more financial shock exercises, Treasury officials say: The U.S. and China are deepening cooperation on financial stability issues, U.S ...
reuters.com/business/finance/us-china-hold-more-financial-shock-exercises-treasury-officials-say-2024-04-08/
Scoop: Treasury wants "sharper scalpel" to dissect foreign investment into the U.S.
axios.com/2024/04/11/cfius-foreign-investment-treasury-review
Yellen meets with China's central bank chief, presses case on excess capacity: U.S. Treasury Secretary Janet Yellen warned China on Monday that Washington will ...
reuters.com/world/yellen-meets-with-chinas-central-bank-chief-presses-case-excess-capacity-2024-04-08/
Some H&R Block customers faced hours of outages on Tax Day: Some H&R Block customers who waited until the last minute to file their taxes faced frustrating ...
cnn.com/2024/04/15/business/h-r-block-outages-tax-day/
Janet Yellen says tariffs are on the table to stop a 'China Shock' as official urges U.S. not to 'politicize'
qz.com/janet-yellen-china-competition-ev-solar-clean-energy-1851394510
Five Things You Need to Know to Start Your Day: Americas: Good morning. US stock futures are muted after a strong close on Friday, while treasuries drop as ...
bloomberg.com/news/newsletters/2024-04-08/five-things-you-need-to-know-to-start-your-day-americas
Krispy Kreme rolls out sweet tax break deal for customers on Tax Day: Krispy Kreme announced Friday that customers can purchase an Original Glazed or Assorted ...
foxbusiness.com/lifestyle/krispy-kreme-rolls-out-sweet-tax-break-deal-for-customers-tax-day
Yellen launches contentious meetings on Chinese excess production threat: U.S. Treasury Secretary Janet Yellen on Friday kicks off four days of talks with senior ...
reut.rs/3U26mB8
US Treasury Secretary Janet Yellen arrived in China's southern factory hub of Guangzhou with a tough message to Chinese officials: you're producing too much of ...
reut.rs/4alEz4u
Treasury wants to boost foreign investment review powers, as Congress dissects Nippon, TikTok deals
apnews.com/article/foreign-investment-nippon-us-steel-209e2f423db824e325787a390d03f6f1
Your Tax Bill Is Due in 8 Days, but Don't Panic. What to Do if You Can't Pay: Ignoring your balance won't make it go away. Following this CPA's tips can help.
cnet.com/personal-finance/taxes/your-tax-bill-is-due-in-8-days-but-dont-panic-what-to-do-if-you-cant-pay/
Janet Yellen's Visit to China: Key Stocks and Sectors for Traders to Watch: US Treasury Secretary Janet Yellen’s mission to address the threat of cheap ...
bloomberg.com/news/articles/2024-04-05/a-trader-s-guide-to-chinese-stocks-in-spotlight-as-yellen-visits
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More than half a billion dollars of taxpayer money has paid for other people’s EVs
charlotteobserver.com/news/business/article287702470.html
CIA refutes whistleblower claim pushed by Republicans leading Biden impeachment inquiry
cnn.com/2024/04/05/politics/comer-jordan-whistleblower-claim-cia/
China’s Economic Moves Threaten U.S., European Companies. Yellen Is Pushing Back.
barrons.com/articles/china-yellen-trade-u-s-b5d0be62
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Donald Trump Fundraiser May Have Broken the Law: An organization that has limits on its political activities held a fundraiser last week where Donald Trump spoke ...
newsweek.com/donald-trump-fundraiser-florida-law-border-foundation-1887858
Breast implants, pets, private jets: some of the oddest tax deductions the IRS has granted
usatoday.com/story/money/taxes/2024/02/20/strange-tax-deductions-irs-allows/72631417007/
9 Red Flags That Could Trigger a Tax Audit: Learn how to protect yourself from audit red flags – and strengthen your case if you do hear from the IRS.
money.usnews.com/money/personal-finance/slideshows/9-red-flags-that-could-trigger-a-tax-audit
US sanctions Hamas spokesperson, leaders of drone unit: The Treasury Department announced Friday it issued sanctions against a Hamas spokesperson and leaders of ...
thehill.com/policy/international/4590396-us-sanctions-hamas-spokesperson-leaders-drone-unit/
The coin honoring the pioneering Anna May Wong keeps showing up in my change. But why? | Opinion
charlotteobserver.com/opinion/article287555870.html
These 12 States Can Now File Taxes Directly With the IRS: Direct File is the IRS free tax preparation software program, which is now in its pilot phase.
money.usnews.com/money/personal-finance/taxes/articles/these-12-states-can-now-file-taxes-directly-with-the-irs
Treasury Secretary Janet Yellen Thinks Global, Eats Local on Road Trips: We already know Janet Yellen’s ideal lunch date: the late, legendary English economist ...
bloomberg.com/news/articles/2024-04-01/yellen-s-road-trips-have-a-theme-think-global-eat-local
Paid articlePaid From US Treasury Secretary Janet Yellen warning China over new industries being decimated by Chinese imports to melting snow triggering the worst recorded ... Show more
Yellen: It’s ‘neither practical nor desirable’ to cut off economic relations with China
thehill.com/business/4576479-yellen-economic-relations-china-trip/
US Treasury Secretary in China: When solar panels are used as garden fences: On her trip to China, US Treasury Secretary Yellen criticized the overcapacity in ...
faz.net/aktuell/wirtschaft/mehr-wirtschaft/us-finanzministerin-yellen-warnt-vor-chinesischer-exportflut-19633562.html
China's Solar Manufacturing Boom: Market Forces, Not Words, Can Fix Overcapacity
bloomberg.com/news/newsletters/2024-04-09/china-s-solar-manufacturing-boom-market-forces-not-words-can-fix-overcapacity
How to Get Free Help With Your Taxes: From federal programs to local resources, here's where to get free help with your taxes.
money.usnews.com/money/personal-finance/taxes/articles/how-to-find-tax-help-for-free
Janet Yellen defends herself against Chinese dumping practices: At the end of her four-day visit to China, the US Treasury Secretary once again accuses the ...
nzz.ch/wirtschaft/heikle-china-mission-janet-yellen-prangert-chinas-industriepolitik-an-will-aber-die-beziehungen-zu-peking-verbessern-ld.1825347
Is There Mail on Tax Day? USPS, UPS, FedEx Hours Today: Taxes are due on April 15 this year, and for those who don't file electronically, the mail must serve.
newsweek.com/there-mail-tax-day-usps-ups-fedex-hours-today-1889944
Stock Markets Today: Yellen threatens sanctions, US rate-cut bets: Get up to speed with what the markets are monitoring
bloomberg.com/news/newsletters/2024-04-09/stock-markets-today-yellen-threatens-sanctions-us-rate-cut-bets
Yellen faces tough road on China's excess capacity problem: U.S. Treasury Secretary Janet Yellen arrives in China's southern factory hub of Guangzhou on Thursday ...
reuters.com/business/energy/yellen-faces-tough-road-chinas-excess-capacity-problem-2024-04-04/
Judge Forces Families to Pay Money on Tax Credit: Arizona's Attorney General Kris Mayes hoped to get the rebate, which was worth up to $750 ...
newsweek.com/judge-forces-federal-taxes-arizona-family-rebate-1889394
IRS Takes a First Step Into E-Filing for This Year’s Tax Returns: This is Washington Edition, the newsletter about money, power and politics in the nation’s ...
bloomberg.com/news/newsletters/2024-04-04/irs-takes-a-first-step-into-e-filing-for-this-year-s-tax-returns
U.S. extends license protecting Citgo from creditors through mid-August
reuters.com/business/energy/us-extends-license-protecting-citgo-creditors-through-mid-august-2024-04-15/
US and China plan talks on economic growth including manufacturing ‘overcapacity’ issue, Yellen says
apnews.com/article/us-china-yellen-economics-trade-tariffs-diplomacy-cb17ca4ed180e9b2d30ac5cdc12e1cb0
Quick Glance: US and China Reach Accord on New Talks for 'Balanced' Economic Growth
- The United States and China have agreed to hold 'intensive exchanges on balanced growth', as stated by the US Treasury Department, following two days of discussions between Treasury Secretary Janet Yellen and her Chinese counterpart He Lifeng in Guangzhou.
- These planned talks signify the latest advancement in joint efforts to stabilize relations between the world's top two economies since a meeting between Presidents Joe Biden and Xi Jinping last November.
- Yellen emphasized that these exchanges will facilitate a discussion on macroeconomic imbalances, including the link to overcapacity, and her intention to advocate for a fair playing field for American workers and companies.
- The US Treasury Secretary cautioned against China's overcapacity risks and highlighted the importance of dialogue to avoid potential conflicts, noting progress in the talks and the structured continuation of discussions as crucial.
Biden Tries Executive Action to Fulfill Campaign Promises: This is Washington Edition, the newsletter about money, power and politics in the nation’s capital ...
bloomberg.com/news/newsletters/2024-04-12/biden-tries-executive-action-to-fulfill-campaign-promises
US issues fresh Iran-related sanctions targeting vessel owner: The United States on Thursday imposed new Iran-related counterterrorism sanctions against ...
reuters.com/world/us-issues-fresh-iran-related-sanctions-targeting-vessel-owner-2024-04-04/
Janet Yellen tackles China over flood of cheap goods: Janet Yellen has kicked off her second visit to China as US treasury secretary with a warning of the risk ...
cnn.com/2024/04/04/business/yellen-us-china-economic-relations-hnk-intl/
Quick Glance: Yellen Warns China of Overproduction Risks
- Janet Yellen has warned China during her second visit as US Treasury Secretary about the risks to jobs and businesses posed by the overproduction of certain goods.
- Yellen highlighted the consequences of the overcapacity of Chinese goods in key industries such as electric vehicles and solar panels, stating that this could impact American firms, workers, and companies globally.
- She discussed potential trade barriers that could be considered if China does not respond to warnings about overcapacity, emphasizing that China is flooding the global market with cheap, state-subsidized products.
- Yellen emphasized the importance of a level playing field for companies and workers in both countries and continued her discussions on bilateral cooperation in areas such as climate change and financial stability with Chinese counterparts.
I Messed Up My Taxes. How Long Does the IRS Have to Find Me?: The long arm of the agency can reach taxpayers years after they file an erroneous return.
on.wsj.com/4aSgQsE
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