Category: Tax Shelters

I.R.S. Tactics Against Meta Open a New Front in the Corporate Tax Fight

The New York Times – Business:
The agency is using real-world profit data to challenge how big companies value offshore intellectual property.
Push to Audit Private Equity and Venture Capital Falters Under Trump

Specialists have left the I.R.S. and audits have been abandoned since the president returned to office.
IRS Official Sues Agency, Accusing It of Leaking Private Data to Fox News and Others

Holly Paz was among officials scrutinizing tax shelters before she was placed on leave and Fox News reported she had been fired.
Trump Administration Halts I.R.S. Crackdown on Major Tax Shelters

The Treasury Department is rolling back efforts to shut down aggressive strategies used by America’s biggest multinational companies and wealthiest people.
Trump’s Tariffs Set to Hit Ireland, Where Drugmakers Play Tax Games

Manufacturing in Ireland has long helped many American drug companies pay lower taxes. But that strategy was designed for a world without President Trump’s tariffs.
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.
Trump Administration Tells Congress to Kill ‘Revenge Tax’ From Policy Bill

Treasury Secretary Scott Bessent said the Group of 7 agreed that penalties related to a 2021 “global minimum tax” deal will not apply to American companies.
Tax Cuts Now Could Lead to Rising Rates Later. Here’s How to Protect Yourself.

The swelling budget deficit makes future tax increases likely, our columnist says, even if taxes are going down now. Hedge your bets with a concept from investing — diversification.
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.
How Jensen Huang, CEO of Nvidia, Is Avoiding Billions in Taxes

The chief executive of Nvidia, Jensen Huang, has taken advantage of popular loopholes in the federal estate and gift taxes, which have quietly been eviscerated.
Tether Co-Founder Faces the Unraveling of a Crypto Dream

Brock Pierce arrived in Puerto Rico seven years ago, promising to use crypto magic to revitalize the local economy. Now he’s mired in legal disputes and fighting with his business partners.
How US Chips Continue to End Up in Russian Missiles

Defying sanctions, Russia has obtained nearly $4 billion in restricted chips since the war began in Ukraine. Many were shipped through a cluster of shell companies in Hong Kong.