Regulation
Senate, House Advance Very Different SEC, IRS Spending Bills
House Republicans support blocking the SEC’s market structure proposals, but Senate Democrats do not.
Tag: IRS
Risk
Biden-McCarthy Agreement Would Extend Debt Ceiling to January 2025
In exchange for extending the debt ceiling, the Biden administration agreed to budget cuts and changes to the federal energy permitting process.
Pensions
Swiss Life Admits to Conspiring to Cheat IRS
The insurance giant will pay more than $77 million for helping taxpayers hide nearly $1.5 billion from IRS.
Regulation
IRS Seeks to Track Down Cryptocurrency Tax Scofflaws
Court grants summons to identify taxpayers using Circle Internet Financial to conduct cryptocurrency transactions.
Risk
Swiss Bank Admits to Helping US Clients Evade Taxes
Zuirch-based 271-year-old private bank Rahn+Bodmer will pay $22 million to settle charges it defrauded the IRS.
Manager Selection
Software Firm CEO Indicted in $2 Billion Tax Evasion Scheme
Robert Brockman allegedly used a web of offshore entities to hide private equity income from the IRS.
Regulation
IRS, Treasury Soften Blow of Endowment Tax
NACUBO welcomes rule changes but still opposes tax, which it says diminishes resources for students.
Risk
Pandemic Relief Could Risk Spousal Retirement Security
Women at higher risk of being hurt by easing of retirement savings requirements.
Regulation
Here’s How to Boost Tax Collection, Says Larry Summers
Increase IRS audits, which are shrinking. This would help narrow the budget deficit, ex-Treasury secretary contends.
IRS Issues Endowment Tax Regulations
Higher education foundations finally get guidance on 2017 excise tax.
Regulation
Senators Grill the Feds After Allowing Retirees to Receive Lump-Sum Benefits
Retirees sometimes left devoid of important information in buyout decision–making process, lawmakers argue.
IRS Proposes Regulations to Soften Endowment Tax Hit
Clarification of 1.4% excise tax could reduce amount paid by universities.
Ohio CEO Convicted of 401(k) Fraud
Attevo Inc.’s Charles Snyder allegedly used funds to support ‘lavish lifestyle.’
IRS Raises Pension Contribution Limits
Changes include increased contribution limits for 401(k), 403(b), and most 457 plans.
Risk
IRS’ Delay in Implementing Mortality Tables Affects Pension Decisions
Move means plan contributions, PBGC premiums may rise.