IRS to close ‘major’ tax loophole The plan targets so-called “partnership basis shifting,” a transaction that allows a business or person to operate through many different legal entities in order to take more ... 06/18/2024 - 7:18 am | View Link
IRS plans to close major tax loophole for wealthy, raise $50 billion in the process The IRS says it's closing a tax loophole that has allowed the wealthy to make billions of dollars in taxable income disappear. 06/17/2024 - 1:00 pm | View Link
The Treasury Department and IRS announce new plan to close tax loophole Our weekly “Econ Extra Credit” newsletter is an unexpected way to learn about the economy, one film at a time. Sign up to watch, and learn, with us. The Treasury Department and the IRS announced a new ... 06/17/2024 - 1:00 pm | View Link
US Treasury, IRS to close $50 billion tax loophole on partnerships The U.S. Treasury and Internal Revenue Service said on Monday they will close a tax loophole exploited by large, complex partnerships, an action that they estimated could raise $50 billion in new ... 06/17/2024 - 10:23 am | View Link
Treasury, IRS announce rules to close 'major tax loopholes' for big business, wealthy 1% of taxpayers The IRS and Treasury Department on Monday unveiled two new rules aiming to end "a major tax loophole" that the wealthiest Americans have used to avoid paying tens of billions of dollars in taxes. The ... 06/17/2024 - 5:58 am | View Link
Rocket firm Virgin Orbit. Matthew Horwood/Getty ImagesThe SEC has filed charges against a Texas man over his offer to invest $200 million in Virgin Orbit. The SEC says Matthew Brown claimed to have $182 million but had less than $1 in his bank account. Virgin Orbit, which aimed to compete with Elon Musk's SpaceX, went bankrupt in 2023.
Christopher Stroup says his six figure income hasn't made him feel "rich" because he's struggling to meet his savings goals related to buying a home and starting a family. Christopher StroupA California-based millennial earning six figures says he'd need to triple his income to feel "rich." High home prices, the costs of surrogacy, and student debt have made his income feel insufficient.
The Tesla Model 3 I rented in London. BII drove a Tesla for the first time to work out why some people love the vehicles so much. The Model 3 is a great car to drive, but it has a few annoying features. I couldn't help feeling somewhat underwhelmed by the Tesla, which was just a bit boring.
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Many countries are experiencing a decline in fertility rates. Douglas Rissing/Getty ImagesBy 2100, 97% of countries are expected to have fertility rates below replacement levels. Demography experts told BI that countries offering financial incentives won't solve this. Promoting gender equality might help, but it's unlikely to reverse population decline, they said.
Mark Zuckerberg is the richest billionaire in CaliforniaChris UngerMeta celebrated its 20th birthday earlier this year. Mark Zuckerberg has been running it since cofounding Facebook from his Harvard dorm room in 2004. Here are some of Zuckerberg's most notable business leadership and management principles. Mark Zuckerberg has been at the helm of Facebook, now Meta, since he created it in his Harvard dorm room 20 years ago.