Treasury Secretary Scott Bessent sought total control over the I.R.S., an agency where Mr. Long, the new commissioner, had started to put his own mark on the job.
Category: Internal Revenue Service
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Trump Is Replacing Billy Long as I.R.S. Commissioner
The change comes just two months into the former Republican congressman’s tenure leading the tax agency.
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Truemed, a Start-Up Run by an RFK. Jr. Aide, Gives Tax Breaks for Meat and Mattresses
The start-up, called Truemed, helps people buy meat and mattresses with money that isn’t subject to federal income tax. But does the tax break apply?
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He Helped Big Companies Dodge Taxes. Now He’s Writing the Rules.
Ken Kies, a longtime tax lobbyist who worked for some of the world’s largest businesses, is now running the Treasury Department’s office that will administer Trump’s tax law.
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How the $1,000 ‘Trump Accounts’ for Newborns Will Work
The payments, part of the new domestic policy law, are for U.S. citizens born this year through 2028. The idea is that the money in the accounts will have many years to grow.
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Biden’s I.R.S. Doubled Audits on the Wealthy, Data Shows
At the same time, the audit rate for those making under $500,000 declined slightly in 2024, fulfilling a promise by the Biden administration.
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Trump Says He’s ‘Taking Away’ Harvard’s Tax Exempt Status
President Trump first threatened Harvard’s tax status last month. It was not immediately clear if the I.R.S. was in fact moving forward with a change.
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Trump’s 100-Day Economic Report Card
Market chaos and economic uncertainty has been a feature of the president’s first few months back in office. DealBook breaks down the milestones, and what to expect next.
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Head of I.R.S. Being Ousted Amid Treasury’s Power Struggle With Elon Musk
Treasury Secretary Scott Bessent complained to President Trump that the acting commissioner had been installed without his knowledge.