Treasury Department Archive

Nigerian Influencer Sentenced to 11 Years In U.S. Prison In $300 Million Fraud Case

TweetShareSharePin0 Shares Nigerian influencer “Billionaire Gucci Master” — AKA Ramon Abbas AKA “Ray Hushpuppi” — has been sentenced to 11 years in U.S. prison for money laundering and fraud. The social media star, famous for his lavish lifestyle that included luxury cars and private jets, had over 2.8 million Instagram followers before he was arrested. 

Maryland Digital Advertising Tax Struck Down by Circuit Court

TweetShareSharePin0 Shares As Maryland’s elected comptroller, Peter Franchot (D) is technically the defendant in two cases challenging the state’s first-in-the-nation digital advertising tax, whether he likes it or not. These days, he doesn’t seem too happy about it. In a statement issued after a Maryland circuit court ruled against the tax on three separate grounds,

Federal Estate Tax Returns: IRS Data

TweetShareSharePin0 Shares Supporters of the federal estate tax often defend it by saying that “because it only affects the heirs of the wealthiest Americans—fewer than one in 1,000 estates—the estate tax is the most progressive part of the tax code.” Despite the relatively small number of estates that pay the tax, there are real people

Billionaire market power: How could an individual wealth tax curb corporate consolidation in the US?

TweetShareSharePin0 Shares The following article is from the “Tax and Monopoly” October 2022 issue of the Tax Justice Focus, an online magazine that explores boundary-pushing ideas in tax justice and revolutionary solutions to the most pressing challenges of our time. Each edition features articles from prominent experts and academics from around the world. The “Tax and monopoly” issue

PA Gov. Quietly Signs $2 Billion Energy Tax Credit Package

TweetShareSharePin0 Shares Pennsylvania Governor Tom Wolf (D) has quietly signed a $2 billion tax credit package for the energy industry. Wolf, 73, has served as the Keystone State’s governor since 2015. Last week, he signed House Bill 1059 into law, benefitting the hydrogen production, milk processing, and biomedical research industries. The final bill was the

Spain Tax Rankings 2022 International Tax Competitiveness Index

TweetShareSharePin0 Shares Tax Foundation recently released the 2022 International Tax Competitiveness Index (ITCI) measuring the competitiveness and neutrality of countries’ tax systems. Since 2020, Spain has dropped from 26th to 34th (out of 38 countries) in the ITCI due to multiple tax hikes, new taxes, and weak performances in all five index components. In Spain’s

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