Author: Editor

Is Trump any closer to eliminating taxes on tips? – CBS News Watch CBS News 100 days into President Trump’s second term, has he made any progress on his campaign promise to end taxes on tips? CBS News’ Andres Gutierrez reports. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Carey Mott is a researcher at Columbia University. Previously, he was with the Yale Program on Financial Stability and the Federal Reserve Bank of New York. With *checks calendar* 70 days left for foreign leaders to cut deals with Trump (or not), you might expect US policymakers to prepare a Plan B in case, you know, fundamentally reshaping the global economy doesn’t work out as intended. But aside from the occasional snark on C-SPAN, Congress has been surprisingly quiet — why? This isn’t the first time US policymakers have stayed mum on tariffs. Long before the US constitution permitted direct taxes…

Semple, Marchal & Cooper LLP, a Phoenix-based firm that took over the audits of Trump Media & Technology Group last year, has filed suit against the BDO Alliance and its chairman after it was ejected from the alliance following an angry phone call.The firm’s lawsuit alleges it was kicked out of the alliance because it took on Trump Media as a client, a contention the BDO Alliance denies.Trump Media, the parent company of the Truth Social network founded by Donald Trump, replaced its auditor last May after the Securities and Exchange Commission shut down its former auditing firm, BF Borgers,…

The Public Company Accounting Oversight Board posted new downloadable datasets related to PCAOB inspection reports.The datasets contain multiple years of information related to PCAOB inspections findings. This information was previously only available in the individual PDF versions of firm inspection reports.  “PCAOB inspection reports have always been a data-rich resource for investors and others,” PCAOB chair Erica Williams said in a statement. “With the release of these downloadable datasets, we are continuing our efforts to drive audit quality by increasing transparency.”The two new datasets contain information from Part I.A and Part I.B of inspection reports for use in different applications,…

Johnson meets with Trump as Congress returns from recess – CBS News Watch CBS News Congress returned Monday after a two-week recess, with President Donald Trump meeting with House Speaker Mike Johnson to map out the future of his tax and spending legislation. CBS News political correspondent Caitlin Huey-Burns has the details. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

A key U.S. banking regulator unveiled settlements with two former Wells Fargo & Co. auditors who were alleged to have ties to the bank’s systemic sales-practice misconduct, according to a statement Friday.The orders resolve actions the Office of the Comptroller of the Currency initiated against David Julian, former chief auditor, and Paul McLinko, former executive audit director. The regulator assessed a $100,000 civil money penalty against Julian and a $50,000 civil money penalty against McLinko. A 2020 investigation by the OCC concluded that executives opened millions of unauthorized customer accounts, transferring funds without customer consent and lying to customers that…

Texas lawmakers approve use of public money to pay for private school tuition – CBS News Watch CBS News A landmark education bill allowing public money to pay for private school tuition is headed to Texas Gov. Greg Abbott’s desk to become law. CBS News national reporter Karen Hua has the details. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThere was once an English-speaking country that tried to make itself economically self-sufficient by imposing tariffs and quotas on trade. Its protectionist experiment was a miserable failure: the economy stagnated and many people emigrated.Ireland learnt its lesson: from the 1960s onwards, it opened up and attracted foreign direct investment with one of the lowest corporate tax rates in the world. Lately, its economic change of heart has worked almost too well. It runs a huge trade surplus with the US…

Data shows the IRS’ Direct File free tax-filing tool has helped save taxpayers money. Now lawmakers want to know why the Trump administration may soon pull the plug on the program.The Trump administration is planning on ending Direct File, the Associated Press reported earlier this month, citing people familiar with the plan. The program, launched during Joe Biden’s presidency, has been credited by some users with making it easier and cheaper to file their taxes, saving the average user $160 in tax preparation fees and hours of their time, according to the Economic Security Project, an advocacy group focused on…

Some environmental groups concerned Trump administration could revoke their tax-exempt status – CBS News Watch CBS News As Earth Day approaches, environmental groups say they’re worried their nonprofit status could soon come under threat from the Trump administration. Tracy Wholf, senior coordinating producer of CBS News’ climate unit, joins “America Decides” with the details. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link