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<strong>Trump Promises To Unveil ‘Massive’ Tax Cut On Wednesday, Leaving Treasury Department Officials ‘Speechless'</strong>

New York Times, Trump Vows to Unveil Tax-Cut Plan Next Week, Surprising Staff: President Trump promised on Friday that he would unveil a “massive” tax cut for Americans next week, vowing a “big announcement on Wednesday,” but he revealed no details about what is certain to be an enormously complicated…… Read more

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The IRS Scandal, Day 1444:&nbsp;&nbsp;Judicial Watch Sues IRS Over Email Preservation

Saturday, April 22, 2017

The IRS Scandal, Day 1444:  Judicial Watch Sues IRS Over Email Preservation

Press Release, Judicial Watch Sues IRS Over Email Preservation:

Judicial Watch today announced that it filed a Freedom of Information Act (FOIA) lawsuit against the Internal Revenue Service (IRS) to obtain records relating to the agency’s “preservation and/or retention” of the email records of officials who have left the agency since January 2010.

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Weekly Tax Roundup

Joe Kristan (CPA & Shareholder, Roth & Company (Des Moines, Iowa); Editor, Tax Update Blog):

Monday, April 17, 2017

Diane Ring, Panama Papers: The One-Year Anniversary (Surly Subgroup). “At its core, the leak revealed the true ownership of over 200,000 offshore entities, thereby raising a host of tax and political questions regarding many of the entities’ owners.”

Jack Townsend, Court Denies Motion to Dismiss Counts Against Tax Shelter Lawyer.… Read more

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Is The Pendulum Of Bond Pricing Beginning To Swing Back Toward Discount Bonds? If So, We Need To Be Prepared For The Resulting Bond Yield Calculations

Premium bonds have been the choice of investors now for many years but is that preference beginning to shift in favor of discount bonds?  Discount bonds are appearing in bond structures with increasing regularity in recent months.  We lawyers leave that question for the underwriters and financial advisors as interest rates turn upward.  However, we need to be prepared for the shift in bond yield calculations that accompany a re-emergence of discount bonds.… Read more

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The IRS Enlists Debt Collectors To Recover Overdue Taxes, ‘Placing A Bull&rsquo;s-Eye On The Backs Of Low-Income Taxpayers’ And ‘Putting Out Barrels Of Honey For Scammers’

Following up on Tuesday’s post, The IRS’s Use Of Private Debt Collectors Will Not End Well (Again):  New York Times, I.R.S. Enlists Debt Collectors to Recover Overdue Taxes:

The Internal Revenue Service is about to start using four private debt-collection companies to chase down overdue payments from hundreds of thousands of people who owe money to the federal government, a job it has handled in house for years.… Read more

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