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Monthly Archives: November 2021
Treasury: Top 1 Percent Responsible for $163 Billion in Unpaid Taxes
The U.S. Treasury Department estimated that the U.S. loses roughly $163 billion each year in taxes owed and unpaid by the richest Americans. In a post calling for stronger enforcement of tax laws, the department calculated that the top 1 … Continue reading
Posted in General, Taxation
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IRS issues another 430,000 refunds for adjustments related to unemployment compensation
The Internal Revenue Service recently sent approximately 430,000 refunds totaling more than $510 million to taxpayers who paid taxes on unemployment compensation excluded from income for tax year 2020. The IRS efforts to correct unemployment compensation overpayments will help most … Continue reading
Posted in General
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Pastor swindles $150,000 in COVID relief funds — then buys a Mercedes
A South Georgia pastor faces decades in prison after he’s accused of stealing thousands of dollars in federal COVID-19 relief funds, some of which authorities said he used to buy a new luxury car. A grand jury handed down a five-count indictment … Continue reading
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North Carolina tax preparer sent to prison for fraud conspiracy
Court documents and statements made in court show that from 2012 to 2017, Andrea Pasley and two others conspired to prepare fraudulent tax returns. They claimed false education credits or dependents or manipulated their clients’ income to qualify for larger … Continue reading
Posted in Fraud, General, Taxation
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Trustee Wants Lawyer Jailed for Not Cooperating in Firm Bankruptcy
The chapter 7 trustee overseeing the dissolution of New York real estate law firm Kossoff PLLC asked a bankruptcy judge Tuesday to hold its founder in civil contempt and order him incarcerated if he continues defying court orders to cooperate. … Continue reading
Posted in Bankruptcy, General
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‘Squid Game’-Inspired Cryptocurrency that Soared by 23 Million Percent Now Worthless After Apparent Scam
In the Netflix hit series “Squid Game,” characters gamble with their lives. Though in real life lives aren’t on the line, for many people who piled their money into Squid, a cryptocurrency named after the show, the financial loss has … Continue reading
Posted in General
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Jessica Simpson Regains Full Ownership of Billion-Dollar Namesake Fashion Brand
Jessica Simpson is back in control of her billion-dollar brand. The singer and actress, 41, is once again in charge of her popular Jessica Simpson Collection after its parent company, Sequential Brands Group Inc., filed for chapter 11 protection back … Continue reading
Posted in Bankruptcy, General
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Fried Chicken Chain Church’s Begins Bond Sale to Refinance Debt
American fried chicken chain Church’s is tapping the U.S. securitization market to raise about $250 million to refinance debt. Cajun Global LLC, a master trust associated with the fast food chain, is in the early stages of marketing a whole … Continue reading
Posted in Debt, General
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U.S. Jobless Claims Drop to Pandemic Low of 281,000
The number of Americans applying for unemployment benefits fell to a pandemic low as the job market continues to recover from last year’s coronavirus recession. Jobless claims dropped by 10,000 to 281,000, the lowest since mid-March 2020, the Labor Department … Continue reading
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Tesla’s Market Value Tops $1 Trillion After Hertz Orders 100K Cars
Hertz announced that it will buy 100,000 electric vehicles from Tesla, one of the largest purchases of battery-powered cars in history and the latest evidence of the nation’s increasing commitment to EV technology. The news of the deal triggered a … Continue reading
Posted in General
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