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Trump Organization FinanceAllen H. Weisselberg came close to tears as he told how money for cars, apartments and tuition was camouflaged in the ledgers of the company he served.
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IRS Releases Inflation-Adjusted Tax Rates for 2023

The New York Times - 19 Oct 2022 02:39
IRS ReleasesFilers whose salaries have not kept pace with inflation could see savings on their federal income tax bills.
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Hungary vetoed a European Union agreement to implement the minimum tax rate on company profits, which is also stalled in the U.S.
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Biden will reportedly proposeThe Billionaire Minimum Income Tax calls for a 20% minimum tax rate on American households worth more than $100 million — essentially, the top 0.01%.
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Biden Budget Seeks Minimum TaxThe introduction of the minimum tax on the wealthiest Americans would represent a significant reorienting of the tax code.
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A Global Tax Deal Is at Hand. Here's How It Would Work.

The New York Times - 30 Oct 2021 01:37
A Global Tax Deal Is at Hand.President Biden will sign on to an international pact aimed at ending profit-shifting by large companies. Here's a look at what it means.
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How the proposed billionaires'Democrats have proposed the tax to raise money for the infrastructure bill.
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Democrats Hammer Out NovelNew proposals would fund social and climate programs by tapping billionaires' unrealized gains and by ensuring that the biggest companies cannot avoid income taxes altogether.
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Dems plan billionaires'Biden's spending package continues to stall as senior Democrats are hoping to finalize a proposal on a new annual tax on billionaires' unrealized capital gains.
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Democrats Back Away FromResponding to concerns from a key centrist, Senator Kyrsten Sinema of Arizona, the White House and leading Democrats are instead discussing a range of other taxes to pay for the plan.
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Sunak 'planning £2bn inChancellor on track to impose a package of manifesto-busting tax increases at this month's budget, says IFS Rishi Sunak is poised to usher in cuts worth £2bn for government departments tasked... with meeting the Tories' flagship "levelling up" agenda, despite planning for the biggest tax raid in a generation. The Institute for Fiscal Studies (IFS) said the chancellor was on track to lift the UK's tax burden to the highest sustained level in peacetime with a package of manifesto-busting tax increases at this month's budget and spending review.
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US treasury secretary Yellen:Minimum global corporate rate of 15% agreed by 136 countries as Yellen also says US will raise debt ceiling on 3 December The US treasury secretary, Janet Yellen, said on Sunday she was confident... Congress would approve legislation to implement the global corporate minimum tax agreed by 136 countries. Yellen told ABC's This Week actions to bring the US into compliance with the global minimum tax would likely be included in the so-called reconciliation budget bill containing Joe Biden's proposed spending initiatives.
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Ireland joins OECD taxIreland on Thursday announced that it will join an Organization for Economic Cooperation and Development agreement that brings an end to the country's low-tax policy for large multinationals, an... incentive that attracted companies like Apple and Google to its shores. By joining the OECD agreement, Ireland is ditching its longstanding 12.5% tax rate to comply with a minimum effective corporation rate of 15% for multinationals with global revenues that exceed 750 million euros (about $867 million) annually. The country's cabinet agreed to the deal ahead of a wider OECD announcement scheduled for Friday, reports The Guardian.Ireland was among nine countries to staunchly refuse the OECD pact and in June pushed for compromise on the proposed global tax rate. At the time, the G7 agreed to make...
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From Claudia Schiffer toThe famous faces are all said to have created offshore companies in tax havens including the British Virgin Islands. Italian mobster Raffaele Amato is also named in the leak.
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Finance Leaders Reach GlobalThe Group of 7 nations reached an agreement over a global minimum tax that companies would pay regardless of where they are based.
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German finance minister Olaf Scholz says a minimum tax deal agreed by the G7 will "change the world".
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President Biden earned $607KBiden's transparency on taxes continues a break from former President Donald Trump, who refused to release his tax returns as president.      
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Biden Will Seek Tax IncreaseThe president's American Family Plan, which remains in flux, does not currently include an effort to expand health coverage, as administration officials had previously planned.
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President Biden's RestrictionIn an effort to thwart tax relief for his own constituents, Senator Joe Manchin has forced attorneys general in other states to sue the Biden administration to protect their sovereignty to set state... fiscal policy as they see fit and provide tax relief for their constituents if they wish to do so.
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Biden to propose $2 trillionThe White House is comparing President Joe Biden's infrastructure proposal to the construction of interstate highways and the Space Race.      
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Trump Must Turn Over Tax Returns to D.A., Judge Rules

The New York Times - 20 Aug 2020 16:22
Trump Must Turn Over TaxA federal judge rejected the president's argument that a subpoena seeking eight years of his tax returns was 'wildly overbroad.'
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A new bill co-sponsored by Sen. Bernie Sanders would impose a one-time windfall tax on the wealth that billionaires have accumulated during the coronavirus pandemic, using the proceeds to pay for free... out-of-pocket health-care costs for all Americans for a year.
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Angry South Korean CryptoActive crypto traders in South Korea said they are prepared to walk away from the scene forever - slamming "unfair" 20% crypto trading tax law proposals unveiled by the government earlier this week.... It is a sign, perhaps, of what traders in other nations will have to deal with in the near future, with draft crypto tax laws now being drawn up by governments all over
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Biden wants Amazon to 'startAmazon has become a popular political football to kick on several issues       
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Government response updates:President Donald Trump is expected to give another briefing on his coronavirus response and field questions on new economic measures, FDA drugs and equipment shortages.
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