Treasury Department Archive
Nigerian Influencer Sentenced to 11 Years In U.S. Prison In $300 Million Fraud Case
November 8, 2022
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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
November 7, 2022
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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
November 7, 2022
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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
Tomorrow’s A Big Day, But Later…
November 7, 2022
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TweetShareSharePin0 Shares Next Monday, Nov. 14: How should the IRS spend $80 billion? Source link TweetShareSharePin0 Shares
Billionaire market power: How could an individual wealth tax curb corporate consolidation in the US?
November 7, 2022
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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
Online Sellers Frustrated at New Tax Thresholds, Marketplaces Fight For Their Users
November 7, 2022
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TweetShareSharePin0 Shares If you sell items on any online marketplace, like eBay, Mercari, Poshmark, or Etsy, you’re going to want to pay attention to new tax thresholds that could impact you. For many families across the United States, selling secondhand items — like gently used clothing and unwanted antiques — has become a major source
PA Gov. Quietly Signs $2 Billion Energy Tax Credit Package
November 7, 2022
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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
Tyson Chicken CFO Falls Asleep In Wrong House, Arrested For Public Intoxication
November 7, 2022
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TweetShareSharePin0 Shares Tyson Foods CFO John R. Tyson was arrested early yesterday morning on public intoxication charges after he was found asleep in the wrong house. Tyson, 32, was also charged with trespassing and was booked in the Washington County, Arkansas jail. Tyson’s headquarters is in Springdale, Arkansas, where it was founded by John W.
Spain Tax Rankings 2022 International Tax Competitiveness Index
November 4, 2022
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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
IRA and 401(k) Contribution Limits Are Increasing. That’s Great News If You Are Rich
November 4, 2022
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TweetShareSharePin0 Shares In response to the recent burst of inflation, the IRS is raising contribution limits for the full range of retirement savings accounts. That’s great news. If you make a lot of money. But it won’t make the slightest difference to the vast majority of working-age Americans, who contribute far less than the existing
