tax evasion
The superrich often claim their philanthropy is meant to “change the world.” But it’s really meant to keep it exactly the way it is. ...[Read more]
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The estate tax can be easily avoided by exploiting a loophole unwittingly created by Congress three decades ago. ...[Read more]
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Wealth is socially created — redistribution just allows more people to enjoy the fruits of their labor. ...[Read more]
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The Treasury Department found taxes owed by the ultra rich equal all income taxes paid by the bottom 90 percent yearly. ...[Read more]
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The Urban-Brookings Tax Policy Center recently released a report saying that 61% of U.S. households had paid no federal income tax in 2020, up from 44% in 2019, as the pandemic led to high unemployment and loss of income. Although the number will likely r ...[Read more]
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When you are very rich, you can borrow money at interest rates that are next to zero; you can also take your income in stock, rather than cash. Stock is only taxed when you sell it, and then at the lower capital gains rate, because the IRS rewards gamblin ...[Read more]
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Jennifer Weisselberg, the former daughter-in-law to the Trump Organization’s Chief Financial Officer Allen Weisselberg, reportedly told investigators last month that she and her now-ex-husband had received perks in lieu of compensation from the company, ...[Read more]
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“Fulfilling his desire to beat a fellow billionaire into the lowest verge of space, notorious tax cheat Richard Branson burned some of the money he owes his home country in order to fling himself past the troposphere so he could experience weightlessnes ...[Read more]
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Money laundering has long been a major issue in the United States but over the last several years, the evolution of technology has made the laundering threat far worse.
Last fall, BuzzFeed News and the International Consortium of Investigative Journalists ...[Read more]
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The head of the IRS calculated that tax evasion in the U.S. may total $1 trillion a year, a figure that is multiples higher than previous estimates from the federal government.
Internal Revenue Service Commissioner Chuck Rettig told a Senate panel Tuesday ...[Read more]
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In a speech on Monday, Treasury Secretary Janet L. Yellen called for a global minimum tax on multinational corporations as President Joe Biden and leading Democrats defended a sweeping jobs and infrastructure proposal that analysts say would support a mor ...[Read more]
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