The Congressional Budget Office said that the so-called X-date could occur as early as spring if Congress does not lift or suspend the nation’s debt limit.
Category: Tax Evasion
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Prominent Cryptocurrency Investor Faces Senate Tax Inquiry
The Finance Committee’s top Democrat sent a letter last month to Dan Morehead, the founder of Pantera Capital, about the investigation.
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I.R.S. Commissioner to Quit as Trump Takes Office
The president-elect has said he plans to nominate Billy Long, a former Republican congressman, to the role.
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How a Businessman Fleeing Fraud Charges Built a Life Offshore
Fleeing fraud charges, Samuele Landi evaded extradition treaties, dabbled in crypto, procured diplomatic credentials and took advantage of all the offshore world has to offer.
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Billy Long Promised Huge Tax Refunds. Now Trump Wants Him to Lead the I.R.S.
Since leaving Congress in 2023, Billy Long has peddled a pandemic-era tax credit that the I.R.S. has warned is a magnet for fraud.
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The Middlemen Linking Migrants in the U.S. to Your Shopping Cart
The incoming Trump administration promises an immigration crackdown. But for years, the on-demand economy has been fueled by unscrupulous staffing agencies exploiting migrant workers.
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I.R.S. Crackdown on Delinquent Millionaires Yields $1 Billion
The beefed-up enforcement is part of the agency’s modernization initiative aimed at improving customer service and catching wealthy tax evaders.
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I.R.S. Extends Freeze of Pandemic-Era Tax Credit Amid Widespread Fraud
An internal analysis conducted by the agency found that up to 90 percent of claims are potentially fraudulent.
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U.S. Debt on Pace to Top $56 Trillion Over Next 10 Years
Congressional Budget Office projections released on Tuesday show a grim fiscal backdrop ahead of tax and debt limit fights.
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MicroStrategy and Its Founder to Pay $40 Million in Tax Fraud Lawsuit
Michael Saylor did not pay any income taxes to Washington despite living there from 2005 through 2020, the attorney general for the District of Columbia said.
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MicroStrategy’s CEO Reaches a Big Tax Settlement
The technology company MicroStrategy and its founder, Michael Saylor, agreed to a $40 million deal to end a lawsuit accusing him of evading income tax.
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I.R.S. Failed to Police Puerto Rico Tax Break, Whistle-Blower Says
An insider accused the agency of failing to scrutinize a lucrative tax break in Puerto Rico designed to lure wealthy Americans to the island.