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IRS Audit Could Cost Trump $100 Million: The tax agency concluded in its long-running investigation that Trump effectively claimed the same massive write-off ...
propublica.org/article/trump-irs-audit-chicago-hotel-taxes
IRS Audit Could Cost Trump $100 Million
Quick Glance: Controversial Accounting Methods Could Lead to Significant Tax Debts for Trump
  • An internal investigation by the Internal Revenue Service, uncovered by The New York Times and ProPublica, suggests that former President Donald J. Trump employed dubious accounting methods to claim improper tax breaks for his troubled tower in Chicago.

  • There are suspicions that Trump used questionable accounting methods when claiming tax breaks, which are now under investigation by the Internal Revenue Service.

  • A previously undisclosed focus of an I.R.S. audit involves a controversial accounting method that allegedly involved double write-offs on a Chicago skyscraper.

  • A years-long audit battle over the disputed claim could result in a tax bill exceeding $100 million, according to the findings.
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Trump could owe more than $100 million in taxes as a result of IRS inquiry, report says
cnn.com/2024/05/11/politics/donald-trump-taxes-irs-report/
Trump could owe more than $100 million in taxes as a result of IRS inquiry ...
Profile picture of Chicago Tribune
Your tax refund could be bigger this year. Here’s what to do with it: The average taxpayer is getting a $2,852 refund, $75 more than last year ...
chicagotribune.com/2024/05/10/irs-tax-refund-what-to-do/
Your tax refund could be bigger this year. Here’s what to do with it
Profile picture of Associated Press
Report: Trump may face $100 million-plus IRS bill over skyscraper: A report by The New York Times and ProPublica says former President Donald Trump may face an ...
apnews.com/article/trump-tax-losses-audit-election-chicago-skyscraper-47729a0758e6b54aa06c075fc49c5c53
Report: Trump may face $100 million-plus IRS bill over skyscraper
Profile picture of ProPublica
Former President Donald Trump faces a potential tax bill of more than $100 million from a longstanding IRS audit of financial maneuvers connected to his ... Show more
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US Social Security, Medicare get slight boost from strong economy: Trust funds supporting Social Security and Medicare benefits for U.S. seniors showed slight ...
reuters.com/world/us/us-social-security-medicare-finances-get-slight-boost-stronger-economy-2024-05-06/
US Social Security, Medicare get slight boost from strong economy
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Your tax refund could be bigger this year. Here's what to do with it: The average taxpayer is getting a $2,852 refund, $75 more than last year
abcnews.go.com/Business/wireStory/tax-refund-bigger-year-110099074
Your tax refund could be bigger this year. Here's what to do with it
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Treasury Secretary Yellen on why Biden is targeting Chinese manufacturing with new tariffs
pbs.org/newshour/show/treasury-secretary-yellen-on-why-biden-is-targeting-chinese-manufacturing-with-new-tariffs
Treasury Secretary Yellen on why Biden is targeting Chinese manufacturing ...
Quick Glance: Biden introduces new China tariffs on electric vehicles, solar, and chips
  • President Joe Biden announced tariffs on $18 billion worth of Chinese imports, including a significant tax increase on electric vehicles, to safeguard his administration's investments in key sectors in the US.

  • The targeted tariffs cover EVs, solar cells, steel, aluminum, semiconductors, batteries, minerals, solar, and medical products.

  • Biden emphasized the importance of the tariffs as a 'smart approach' while criticizing Trump's trade policies.

  • Despite economists' concerns about increased consumer costs and inflation, administration officials defended the targeted tariffs as necessary to protect ongoing investment progress.
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Biden raises tariffs on $18 billion of Chinese imports: EVs, solar panels, batteries and more
cnbc.com/2024/05/14/biden-raises-china-tariffs-on-evs-solar-panels-batteries-.html
Biden raises tariffs on $18 billion of Chinese imports: EVs, solar panels ...
Quick Glance: 5 insights from Biden's tariff hikes on Chinese electric vehicles
  • The US has significantly increased tariffs on Chinese electric vehicles to boost US jobs and manufacturing.

  • Biden's climate plan relies on US jobs while protective measures and subsidies promote green energy.

  • There is bipartisan support for US-made electric vehicles.

  • Trump and Biden both favor tariffs, but differences exist in their approaches towards China and their impacts.
Profile picture of The Hill (newspaper)
Deadline to claim $1 billion in tax refunds nears – do you qualify?: A crucial deadline is coming later this month for some taxpayers who may be owed their share ...
thehill.com/homenews/4652600-deadline-to-claim-1-billion-in-tax-refunds-nears-do-you-qualify/
Deadline to claim $1 billion in tax refunds nears – do you qualify?
Profile picture of Fox Business
IRS plans to more than double its audit rate of wealthy taxpayers: Funding for the latest enforcement efforts was included in the Democrats' health care and ...
foxbusiness.com/money/irs-plans-more-than-double-its-audit-rate-wealthy-taxpayers
IRS plans to more than double its audit rate of wealthy taxpayers
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Nonbank Mortgage Companies Pose Financial Stability Risks, Yellen Says: Nonbank mortgage companies, which increasingly dominate the sector, pose unique risks and ...
trib.al/5RMXWU1
Nonbank Mortgage Companies Pose Financial Stability Risks, Yellen Says
Profile picture of Bloomberg
Where’s the Bond Market’s Breaking Point? It’s Not $35 Trillion: There’s a truckload of cash looking for the high Treasury yields and stellar economic story the ...
bloomberg.com/opinion/articles/2024-05-13/where-s-the-bond-market-s-breaking-point-it-s-not-35-trillion
Where’s the Bond Market’s Breaking Point? It’s Not $35 Trillion
Profile picture of Chicago Tribune
Editorial: The IRS gets back on its feet. Time to crack down on wealthy cheaters.
chicagotribune.com/2024/05/13/editorial-irs-funding-audits-wealthy-cheaters/
Editorial: The IRS gets back on its feet. Time to crack down on wealthy ...
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Opinion | Janet Yellen’s New Too-Big-To-Fail Firms: Treasury says non-bank mortgage servicers are systemically important.
on.wsj.com/3QJFjss
Opinion | Janet Yellen’s New Too-Big-To-Fail Firms
Profile picture of The Washington Post
In reversal, IRS plans to let N.D. help tribes on child support payments: More than a year after pressuring North Dakota to stop helping Native American tribes ...
washingtonpost.com/business/2024/05/16/irs-child-support-refunds/
In reversal, IRS plans to let N.D. help tribes on child support payments
Profile picture of Accounting Today
Two contenders jockey to run Trump's Treasury: One man, in the eyes of Donald Trump, is a "money machine." The other is a guy named "Scott."
accountingtoday.com/articles/ex-soros-star-scott-bessent-jockeys-with-john-paulson-to-run-trumps-treasury
Two contenders jockey to run Trump's Treasury
Profile picture of WION
US sanctions target Russian schemes to evade sanctions : The US Treasury Department has exposed an alleged scheme by a sanctioned Russian oligarch to evade ...
wionews.com/videos/us-sanctions-target-russian-schemes-to-evade-sanctions-721578
US sanctions target Russian schemes to evade sanctions
Profile picture of Bloomberg
CFTC’s Kristin Johnson To Be Tapped for Top Treasury Role by White House: The White House is poised to nominate Kristin Johnson, a Democratic commissioner at the ...
bloomberg.com/news/articles/2024-05-09/white-house-poised-to-nominate-cftc-s-johnson-to-treasury-role
CFTC’s Kristin Johnson To Be Tapped for Top Treasury Role by White House
Profile picture of Orlando Sentinel
Editorial: The IRS gets back on its feet. Time to crack down on wealthy tax cheats
orlandosentinel.com/2024/05/17/editorial-irs-funding-audits-wealthy-cheaters/
Editorial: The IRS gets back on its feet. Time to crack down on wealthy ...
Profile picture of CNN.com
Mortgage companies could intensify the next recession, US officials warn: US officials worry the next recession could be intensified by a cascading series of ...
cnn.com/2024/05/13/economy/mortgage-company-risk-regulation-fsoc/
Mortgage companies could intensify the next recession, US officials warn
Profile picture of The Washington Post
An IRS change cut child support for Native moms. Other families may be next.: The IRS has threatened to cut off states from garnishing delinquent parents’ tax ...
washingtonpost.com/business/2024/05/12/child-support-tax-refunds/
An IRS change cut child support for Native moms. Other families may be ...
Profile picture of CNBC
Reckless government spending enabled by the Federal Reserve is hurting average Americans and endangering President Joe Biden’s chances at getting reelected ... Show more

Stanley Druckenmiller gives Biden's economic policies an 'F,' blames the Fed for reigniting inflation
Profile picture of The Salt Lake Tribune
Letter: The reality is that there really is a ‘deep state.’ I used to be a part of it.
sltrib.com/opinion/letters/2024/05/09/letter-reality-is-that-there/
Letter: The reality is that there really is a ‘deep state ...
Profile picture of Axios (website)
The mystery of charitable fund fees: No one will say how big they are.
axios.com/2024/05/17/charitable-funds-taxes-irs-daf-fees
The mystery of charitable fund fees
Profile picture of The Guardian
Could new US sanctions threaten the future of West Bank settlements?: Joe Biden’s latest executive order gives scope to target the finances of Israeli ...
theguardian.com/world/article/2024/may/12/could-new-us-sanctions-threaten-future-of-west-bank-settlements
Could new US sanctions threaten the future of West Bank settlements?
Profile picture of The Hill (newspaper)
LockBit ransomware gang leader indicted: The Department of Justice (DOJ) has identified and indicted a senior leader of the Russia-based LockBit ransomware group ...
thehill.com/policy/technology/4649333-lockbit-ransomware-gang-leader-indicted/
LockBit ransomware gang leader indicted
Quick Glance: Law Enforcement Identifies and Accuses High-Ranking Leader of Lockbit Ransomware Group
  • US authorities claim that Russian citizen Dimitry Yuryevich Khoroshev is considered a senior figure in Lockbit and has amassed at least $100 million from ransom payments.

  • Today, international law enforcement agencies revealed the identity of the alleged leader of the infamous Lockbit ransomware gang.
Profile picture of Fox Business
Time to claim $1B in tax refunds dwindles: A state-by-state breakdown: The IRS says 1 million people face a May 17 deadline to submit their tax returns for ...
foxbusiness.com/personal-finance/time-to-claim-1-billion-tax-refunds-dwindles-state-by-state-breakdown
Time to claim $1B in tax refunds dwindles: A state-by-state breakdown
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Senator Warren chides US Treasury for slow progress in tackling racial discrimination
reuters.com/world/us/senator-warren-chides-us-treasury-slow-progress-tackling-racial-discrimination-2024-05-10/
Senator Warren chides US Treasury for slow progress in tackling racial ...
Profile picture of ProPublica
IRS Increases Scrutiny of Sports Team Owners’ Tax Avoidance: A new campaign by the tax agency comes after ProPublica revealed how billionaires generate what can ...
propublica.org/article/sports-team-owners-face-new-scrutiny-from-irs-over-tax-avoidance
IRS Increases Scrutiny of Sports Team Owners’ Tax Avoidance
Profile picture of Bloomberg
Five Things You Need to Know to Start Your Day: Asia: Good morning. Goldman sees upside pressure for US stocks and bonds. Yellen hopes China won’t mount major ...
trib.al/aaZZOfP
Five Things You Need to Know to Start Your Day: Asia
Profile picture of Accounting Today
IRS adjusts HSA amounts for 2025: The Internal Revenue Service issued the annual inflation adjustments for health savings accounts in 2025 as prices continue to ...
accountingtoday.com/news/irs-adjust-hsa-amounts-for-2025
IRS adjusts HSA amounts for 2025
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US to hold auctions to sell airline warrants received during COVID bailouts: The U.S. Treasury Department said on Friday it planned to conduct a series of ...
reuters.com/business/aerospace-defense/us-hold-auctions-sell-airline-warrants-received-during-covid-bailouts-2024-05-10/
US to hold auctions to sell airline warrants received during COVID ...
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Yellen: Treasury exploring ways to expand free tax filing program: Treasury Secretary Janet Yellen told lawmakers Wednesday that the department is looking into ...
thehill.com/business/4633813-democrats-cheer-direct-file-as-treasury-plans-next-steps/
Yellen: Treasury exploring ways to expand free tax filing program
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U.S. Accuses Russia of Using Chemical Weapons in Ukraine: The U.S.
themoscowtimes.com/2024/05/02/us-accuses-russia-of-using-chemical-weapons-in-ukraine-a85011
U.S. Accuses Russia of Using Chemical Weapons in Ukraine
Quick Glance: Accusations Against Russia for Using 'Chemical Weapons' in Ukraine
  • The US accused Russia on Wednesday of using chemical weapons against Ukrainian forces, violating the Chemical Weapons Convention. Simultaneously, new sanctions against Moscow were announced.

  • In addition to Chloropicrin, Russia used 'riot control agents (tear gas)' as a method of warfare in Ukraine, also contravening the CWC, as stated by the State Department in an information sheet.

  • The sanctions aim to penalize companies aiding Moscow in acquiring weapons for the Ukrainian war. They also focus on Russian government entities and firms involved in the country's chemical and biological weapons programs.

  • Some of the targeted entities were situated in countries like China, which have been under mounting pressure from Washington due to their support for Russia during the 15-month invasion of Ukraine.
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Yellen says Chinese response possible on expected U.S. tariff action: The United States could see a significant response from China following any U.S ...
cnbc.com/2024/05/13/yellen-says-chinese-response-possible-on-expected-us-tariff-action.html
Yellen says Chinese response possible on expected U.S. tariff action
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Treasury Secretary Janet Yellen: Protecting democracy is vital to safeguard strong economy
usatoday.com/story/opinion/2024/05/03/janet-yellen-economy-investing-america-democracy-china-russia/73546983007/
Treasury Secretary Janet Yellen: Protecting democracy is vital to ...
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Fed holds interest rates steady, calls out stalled progress on inflation: Recent economic data has shown little progress on getting inflation back to the Fed's ...
axios.com/2024/05/01/fed-interest-rates-may-decision-update
Fed holds interest rates steady, calls out stalled progress on inflation
Quick Glance: Federal Reserve's Decision on Interest Rates and Burden of U.S. Households
  • The Federal Reserve has decided to maintain the benchmark interest rate stable and defer anticipated rate cuts, given the ongoing burden of elevated inflation on U.S. households.

  • The announcement comes amidst recent government data indicating a slowdown in the economy.

  • The current Fed Funds rate ranges between 5.25% and 5.5%, aligning with its highest level since 2001.
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U.S. orders Chinese-backed crypto miner to sell land near nuclear missile base: The White House has issued an order forcing a Chinese-backed cryptocurrency ...
cnbc.com/2024/05/14/us-orders-chinese-backed-crypto-miner-to-sell-land-near-military-base.html
U.S. orders Chinese-backed crypto miner to sell land near nuclear missile ...
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Over $1 billion in unclaimed tax refunds is set to expire in just over 2 weeks, IRS says—here’s how to claim yours
cnbc.com/2024/04/30/irs-over-1-billion-in-unclaimed-tax-refunds-set-to-expire.html
Over $1 billion in unclaimed tax refunds is set to expire in just over 2 ...
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An early retiree uses Rule 72t to withdraw his IRA money before 59 1/2: Early retiree Eric Cooper Googled, "How do I access my retirement funds early without ...
businessinsider.com/early-retiree-uses-rule-72t-to-withdraw-his-ira-money-2024-5
An early retiree uses Rule 72t to withdraw his IRA money before 59 1/2
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Why only 22 EV models now qualify for the $7,500 federal tax credit: Electric vehicles made with Chinese materials will be ineligible for the tax credit under a ...
washingtonpost.com/climate-environment/2024/05/03/electric-vehicle-tax-credits-china/
Why only 22 EV models now qualify for the $7,500 federal tax credit
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Yellen defends global corporate minimum tax deal amid Republican criticism: Treasury Secretary Janet Yellen on Tuesday defended a global corporate tax deal ...
reut.rs/4dw3Via
Yellen defends global corporate minimum tax deal amid Republican criticism
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U.S. regulators call for new fund to prevent mortgage servicers from going under: ‘Vulnerabilities of nonbank mortgage companies can amplify shocks in the ...
marketwatch.com/story/u-s-regulators-call-for-new-fund-to-prevent-mortgage-servicers-from-going-under-3f2fe9ef
U.S. regulators call for new fund to prevent mortgage servicers from going ...
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New rules from the Treasury Department will make it harder for vehicles to qualify for the full federal electric vehicle tax credit of $7,500 ... Show more

yhoo.it
Profile picture of The Salt Lake Tribune
Letter: The reality is that there really is a ‘deep state.’ I used to be a part of it.
sltrib.com/opinion/letters/2024/05/09/letter-reality-is-that-there/
Letter: The reality is that there really is a ‘deep state ...
Profile picture of Newsweek
IRS Issues Final Reminder on $1 Billion in Tax Refunds: Almost 1 million Americans are owed money by the IRS for unclaimed historic tax refunds ...
newsweek.com/irs-final-reminder-1-billion-tax-refunds-deadline-1898700
IRS Issues Final Reminder on $1 Billion in Tax Refunds
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A CPA's day in Tax Court: For CPAs who aspire to practice in Tax Court, the ability to review a case that has been litigated by a fellow CPA is a useful ...
accountingtoday.com/news/a-cpas-day-in-tax-court
A CPA's day in Tax Court
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IRS Update Reveals How Homeowners Could Save Thousands: Homeowners who have implemented energy-efficient improvements on their property can apply to receive ...
newsweek.com/irs-update-reveals-how-homeowners-could-save-thousands-1899218
IRS Update Reveals How Homeowners Could Save Thousands
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Automakers win extension on use of Chinese graphite in EV tax credits: The U.S. Treasury Department on Friday gave automakers additional flexibility on battery ...
reuters.com/business/autos-transportation/automakers-win-extension-use-chinese-graphite-ev-tax-credits-2024-05-03/
Automakers win extension on use of Chinese graphite in EV tax credits
Profile picture of Insider (news website)
Yellen: 'Almost impossible' to buy a first home at these prices, rates: Soaring home prices and surging mortgage rates have ruled out home ownership for many ...
businessinsider.com/housing-market-home-prices-mortgage-interest-affordability-crisis-janet-yellen-2024-5
Yellen: 'Almost impossible' to buy a first home at these prices, rates
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Developing appropriate transfer pricing policies can help US companies with international activity and related parties.. Be sure to understand the tax and ... Show more

Basic Transfer Pricing Considerations for Inbound Companies : 2020 : Articles : Resources : CLA (CliftonLarsonAllen)
Profile picture of The Arizona Republic
US Treasury Secretary Janet Yellen talks about 'Bidenomics' in Mesa: Arizona is ground zero for some of President Biden's economic priorities ...
azcentral.com/picture-gallery/news/politics/arizona/2024/05/04/us-treasury-secretary-janet-yellen-talks-about-bidenomics-in-mesa/73572134007/
US Treasury Secretary Janet Yellen talks about 'Bidenomics' in Mesa
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U.S. sanctions nearly 300 targets aiding Russia's war against Ukraine - UPI.com
upi.com/Top_News/US/2024/05/02/Russia-Ukraine-war-sanctions/7631714624503/
U.S. sanctions nearly 300 targets aiding Russia's war against Ukraine ...
Profile picture of Time
IRS Acts to Address Wide Disparity in Audit Rates Between Black Taxpayers and Other Filers
time.com/6974176/irs-disparity-audit-rates-black-taxpayers/
IRS Acts to Address Wide Disparity in Audit Rates Between Black Taxpayers ...
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In indirect jab at Trump, Yellen says threats to democracy risk US growth: U.S. Treasury Secretary Janet Yellen has warned of the detrimental effects a fractured ...
dailysabah.com/business/economy/in-indirect-jab-at-trump-yellen-says-threats-to-democracy-risk-us-growth
In indirect jab at Trump, Yellen says threats to democracy risk US growth
Profile picture of The Wall Street Journal
You Made a Mistake in Your Taxes. Now What?: The rules around amending a return can get complicated. Here’s what you need to know.
wsj.com/personal-finance/taxes/filed-taxes-mistake-next-steps-738bec2a
You Made a Mistake in Your Taxes. Now What?
Profile picture of thedailybeast.com
Feds and IRS Go After DiCaprio's Pal Chuck Pacheco Over $8M Tax Debt: The IRS says Hollywood producer Chuck Pacheco spent millions on art, cars ...
thedailybeast.com/feds-and-irs-go-after-dicaprios-pal-chuck-pacheco-over-dollar8m-tax-debt
Feds and IRS Go After DiCaprio's Pal Chuck Pacheco Over $8M Tax Debt
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Steve Forbes explains how both the Federal Reserve and President Biden's Treasury Department are doing great, continual harm to small business—and why their ... Show more
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Foreign tax credits intersect with global minimum taxes: The Internal Revenue Service and the Treasury Department plan to issue regulations on the interplay ...
accountingtoday.com/news/foreign-tax-credits-intersect-with-global-minimum-taxes
Foreign tax credits intersect with global minimum taxes
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The $7,500 tax credit for electric cars keeps changing. Here's how to get it now: The IRS has made it a bit easier for EVs to qualify for tax credits in 2025 ...
npr.org/2023/12/28/1219158071/ev-electric-vehicles-tax-credit-car-shopping-tesla-ford-vw-gm
The $7,500 tax credit for electric cars keeps changing. Here's how to get ...
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Democrats Need to Tell the Whole Story About Abortion: In focusing on a particular kind of abortion and a particular kind of woman, they stigmatize others.
bloomberg.com/opinion/articles/2024-05-12/democrats-need-to-tell-the-whole-story-about-abortion
Democrats Need to Tell the Whole Story About Abortion
Profile picture of Trinidad Express Newspapers
SHELL DIDN'T APPLY FOR OFAC LICENCE SAYS GOV'T: The Energy Minister says the multinational energy giant Shell "has not requested any extension of the OFAC ...
tv6tnt.com/news/7pmnews/shell-didnt-apply-for-ofac-licence-says-govt/article_4a542510-1198-11ef-b267-734969ee382e.html
SHELL DIDN'T APPLY FOR OFAC LICENCE SAYS GOV'T