IRS to close ‘major’ tax loophole
The IRS and Treasury Department on Monday announced plans to eliminate major tax loopholes exploited by wealthy taxpayers, a move that is expected to raise as much as $50 billion over the next decade. The plan targets so-called “partnership basis shifting,” transactions that allow companies or individuals to increase deductions and minimize liabilities by operating […]
IRS unveils plan to close tax loophole for pass-through businesses – CNBC
IRS Commissioner Danny Wuerfel testifies before the House Appropriations Committee in Washington, DC on May 7, 2024. Kevin Dietsch | Getty Images The U.S. Treasury Department and the IRS on Monday announced a plan to “close significant tax loopholes” exploited by large, complex partnerships that could raise an estimated $50 billion or more in tax […]
Cartels Won’t Exploit Unaccompanied Minor Loophole in Biden Order Because We’re ‘Taking it to the Cartels’
On a Tuesday episode of Fox News Channel’s “Your World,” Homeland Security Secretary Alejandro Mayorkas responded to concerns that exemptions for unaccompanied children in President Joe Biden’s immigration executive order could be exploited by cartels by saying, “We’re going to take it out on the cartels.” host Neil Cavuto asked. [relevant exchange begins around 6:05] […]
Biden admin scrambles to close loophole that allowed migrant on terror watchlist to go free
The Biden administration is seeking to close a loophole in immigration processing that allowed a man on a terrorist watch list to move freely around the U.S. for more than a year. A memo written by Homeland Security Secretary Alejandro Mayorkas earlier this month repealed a 2004 directive that made it harder for officials prosecuting […]
Biden admin is closing Hatch Act loophole — but why now?
Is the Biden team trying to avoid politicizing the upper echelons of the administration? It’s doubtful. The Office of Special Counsel (an executive branch agency) transferred enforcement authority of the Hatch Act, which bans political activity by government employees, from the White House to a quasi-independent agency, the Merit Systems Protection Board. Historically, senior White […]
NY push to close loophole that let Weinstein off the hook is in limbo
Efforts in Albany to close a loophole in the law that helped overturn Harvey Weinstein’s state sex crimes conviction appear to have stalled. The state Senate is expected to pass a bill Wednesday that would update the rules of evidence in trials of sexual abuse suspects, but Assembly Speaker Carl Heastie has not said whether […]
Lefty groups oppose closing NY loophole that left Weinstein off
Left-leaning criminal justice groups are pushing for a last-minute update to New York’s rules of evidence that needs attention after the Court of Appeals threw out the conviction of disgraced movie mogul Harvey Weinstein last month. They are asking the City of Albany not to proceed. Hoping to limit the damage caused by the ruling, […]
Time to Close the Loophole Allowing Foreign Billionaires to Interfere in Our Elections
After years of hysteria over Russiagate and allegations of foreign influence in American elections, attempts to retake the White House and Congress in recent election cycles despite the federal government banning foreign contributions in American elections The Democratic effort was funded by $500 million from a shadowy foreign billionaire with the stated goal of turning […]
McDonald’s Introduces Bagels To Exploit California’s Wage Hike Loophole: REPORT
The iconic food franchise McDonald’s plans to reintroduce bagel sandwiches on their menu to offset California’s wage hike for fast food workers, Bloomberg reported Friday. One McDonald’s franchisee group characterized the law behind the wage hike as a “devastating financial blow” and the franchise assembled a “Rise and Dominate” task force to brainstorm ideas about […]
State senators want to close loophole that uses taxpayer $$ to pay Cuomo’s legal fees
Some state senators want to block New York Paul, like the former governor. Andrew Cuomo has stopped spending any more tax dollars on legal fees when facing lawsuits during his tenure. Local senators released a budget proposal last week and pushed by Sen. Mike Gianaris (D-Queens) that has allowed politicians like Cuomo and former state […]