IRS reports collecting $1 billion from rich households’ back taxes – The Washington Post
The IRS announced Wednesday that it has collected $1 billion in taxes and penalties from hundreds of wealthy households who have accumulated years of delinquent tax debt amid a weakening of IRS enforcement. “The tax claims were not even in dispute. Clearly these people owed back taxes,” IRS Commissioner Danny Wuerfel said on a conference […]
Citigroup has now been fined more than half a billion dollars after CEO Jane Fraser staked her tenure on fixing the bank – Fortune
Two government regulators on Wednesday fined Citigroup Inc. $135.6 million for failing to resolve long-running internal control and risk problems, a blow to the bank’s Chief Executive Officer, Jane Fraser, who has staked her career on making the bank leaner and less complex. The penalties were imposed by the Federal Reserve and the Office of […]
Treasury, IRS announce 'major milestone' of $1 billion in past-due taxes collected from millionaires – CNBC
Internal Revenue Service Commissioner Danny Wuerfel testifies to the House Appropriations Committee on Capitol Hill in Washington, May 7, 2024. Kevin Dietsch | Getty Images News | Getty Images “The IRS has collected $1 billion from billionaires, successfully launching a strategic new program and demonstrating that we can achieve the greatest return on investment,” Treasury […]
$1.13 billion Mega Millions jackpot in NJ remains unclaimed months after drawing
Check your pockets! The winner who bought a $1.13 billion Mega Millions ticket at a New Jersey liquor store in March has yet to claim the prize, the largest in the state’s history, lottery officials said. The life-changing jackpot, the fifth largest in Mega Millions history, with a total prize of $537.5 million, was purchased […]
Biden Green Loan Czar To Shell Out Over $1 Billion To Firm Linked To His Old Trade Group — And His Current Office
The Biden administration’s green loan czar is looking to loan more than $1 billion to a green technology company that is connected to his old trade association and his current federal office. Department of Energy (DOE) Loan Programs Office (LPO) Director Jigar Shah announced Tuesday that his office has reached a conditional commitment to loan […]
Feds unlikely to claw back Washington’s $1.1 billion in mishandled funds: Auditors
(The Center Square) – Despite a recent audit finding Washington state agencies mishandling more than $1 billion in federal COVID-19 aid, the State Auditor’s Office says it’s not common for federal departments to demand those tax dollars back from the state. A recent report from the SAO found a record 86 issues with how 11 state agencies […]
Cryptocurrency Thefts Surge to $1.38 Billion in First Half of 2024
A new report from blockchain research firm TRM Labs has revealed an alarming rise in cryptocurrency theft, with hackers more than doubling their illicit gains in the first half of 2024 compared to the same period last year. Cryptocurrency criminals have stolen a staggering $1.38 billion so far this year. CNBC Reports The cryptocurrency world […]
$1 billion gift to make medical school free for most Johns Hopkins students
Michael Bloomberg’s $1 billion donation to Johns Hopkins University will make medical school tuition free for nearly all students at his alma mater. The donation was made by Bloomberg Philanthropies. Announced The donation, announced Monday, will cover 100 percent of tuition fees for medical students whose family incomes are under $300,000. It will also cover […]
Tesla investors call for judge to reject $7 billion legal fee in Musk’s pay case
Panelists Al Root and Jack Otter discuss how Tesla shareholders voted to reinstate a roughly $50 billion compensation package on Barron’s Roundtable. Tesla shareholders are due to appear in court in Delaware on Monday to ask a judge to reject the company’s “exorbitant” demand for $7 billion in attorneys’ fees to the lawyers leading the […]
Jeff Bezos Saves $1 Billion in Taxes by Moving to Florida
Amazon founder Jeff Bezos recently relocated to Miami, Florida, to avoid Washington state’s state capital gains tax and save nearly $1 billion in taxes on recent stock sales. CNBC Reports Amazon founder and billionaire Jeff Bezos is once again in the spotlight not only for a massive stock sale, but also for the significant tax […]