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Natasa Adzic/stock.adobe.com The 2025 filing season has been completed quietly, despite trepidation regarding the Internal Revenue Service’s ability to function effectively in the face of cuts in funding and staff. “It’s been pretty smooth,” according to Roger Harris, president of Padgett Business Services. “A very typical season. Of course, the last four or five days are always a challenge when all the procrastinators come in. There’s always a hiccup during the last week.”One of the reasons it was smooth was a concerted effort to focus all IRS resources to make it smooth, according to Harris — an important lesson for the…

UBS Group AG agreed to pay $511 million to settle a U.S. investigation into how Credit Suisse Group, the Swiss bank it bought, helped rich Americans evade taxes even after pledging to stop the practice a decade ago. A Credit Suisse unit pleaded guilty to conspiring to help its customers hide more than $4 billion from the Internal Revenue Service in at least 475 offshore accounts, the Justice Department said. The U.S. also filed a criminal charge related to U.S. accounts booked at Credit Suisse AG Singapore, which it will drop if the bank cooperates sufficiently. The resolution ends a long-running scandal…

One of the goals of President Donald Trump’s 145% tariffs against China is to drive manufacturing back to America. But the odds of that are low, at least when it comes to toys.”We don’t see that happening,” Mattel CEO Ynon Kreiz said on CNBC’s “Squawk Box” Tuesday, less than a day after the company withdrew annual financial targets.”We need to remember that a significant part of toy creation happens in America,” he said. “Design, development, product engineering, brand management all happens in America. Making product, producing product in other countries, allows us to create quality products at affordable price points.”Mattel…

The Ferrari brand logo, the coat of arms with the lettering and a rising horse (cavallino rampante), can be seen on the rim of a vehicle from the sports car manufacturer in Munich (Bavaria) on April 6, 2025.Picture Alliance | Picture Alliance | Getty ImagesLuxury carmaker Ferrari on Tuesday reported a significant upswing in first-quarter profit, citing robust demand for personalized vehicles — but warned U.S. President Donald Trump’s trade policy could hit earnings this year.The Maranello, Italy-based sports car manufacturer posted net profit of 412 million euros ($466.3 million) for the first three months of the year, reflecting a…

Miami, Hialeah Gardens, Florida, Walmart Supercenter, checkout line cashier, customers paying. Jeff Greenberg | Universal Images Group | Getty ImagesHispanic consumers are cutting back their grocery spending on everything from beer to cooking spray, executives said during recent earnings calls.Coca-Cola, Constellation Brands and Colgate-Palmolive are among the companies that have reported a slowdown in North American sales from Hispanic shoppers.A fifth of the U.S. population identifies as Hispanic or Latino, according to the U.S. Census Bureau. Hispanics are now the second-largest demographic in the U.S. and the second-fastest growing ethnic group, agency data shows.As the population of Hispanic consumers grows,…