[T]he reality is that Clinton favors strengthening the already-tough regulations on Wall Street created by Dodd-Frank, by levying a risk fee on the largest banks and tightening the Volcker Rule. Trump, on the other hand, proposes “close to dismantling of Dodd-Frank,” which, he claims, “has made it impossible for bankers to function.” One doesn’t need to personally trust Clinton to know she will be “tougher” on Wall Street than her opponent. For Clinton, the political price of repealing the Consumer Financial Protection Bureau and Dodd-Frank’s other reforms is immense — she would lose the support of an enormous swath of her party’s base. This is not the case for Trump, who has lost none of his base since calling for a moratorium on financial regulations. … [Read more...] about Trump’s Tax Avoidance Was Perfectly Legal. That’s Why It’s an Issue.
Amended federal tax return status
Also, a three-month extension in the deadline was announced for those opting for the tax dispute resolution scheme ‘Vivad se Vishwas’ scheme by paying the principal amount. Previously the deadline for payment of such amount was March 31 and any payment after that was to be charged with an additional 10%. Now, no additional 10% amount requires to be paid if payment is made by June 30, 2020. … [Read more...] about Tax dept. asks officers working from home to chase large taxpayers for dues
The tax plan on which Trump has campaigned thus far mainly consists of an enormous tax cut for the richest Americans, along with a simplified four-bracket system and no income tax for individuals earning less than $25,000 a year (according to his campaign website, these individuals “get a new one-page form to send the IRS saying, ‘I win’”). … [Read more...] about Trump Campaign Promises It Won’t Change Tax Plan
As part of the conspiracy, the brothers also commingled funds from business and personal bank accounts and used the money to pay for personal items, such as high-end vehicles and clothing. The government also accused Michael Sorrentino of making multiple cash deposits on the same day in amounts less than $10,000 into different bank accounts to evade reporting requirements. … [Read more...] about “Jersey Shore” Star Mike “The Situation” Sorrentino Checked Into Federal Prison To Start His 8-Month Sentence
Reality TV star Michael "The Situation" Sorrentino, along with his brother Marc, pleaded guilty Friday to tax crimes, federal prosecutors announced Friday.Jersey Shore star is facing the maximum sentence of five years in prison after pleading guilty to one count of tax evasion, according to the Department of Justice. His brother faces three years in prison for pleading guilty to one count of aiding in the preparation of a fraudulent tax return. … [Read more...] about Mike “The Situation” Sorrentino Is Facing Five Years In Prison For Tax Evasion
"To a certain degree the government is picking winners and losers in the stimulus bill and we will probably see it become even more political," Richardson said. "But it is important for stimulus to be passed in order to put a floor on the financial hit from the coronavirus and stabilize the economy." … [Read more...] about Wealthy real estate developers like Trump score a huge tax break in the stimulus bill