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☆ Trump May Owe $100 Million From Double-Dip Tax Breaks, Audit Shows
▼ + stars: | 2024-05-11 | by ( Russ Buettner | Paul Kiel | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump used a dubious accounting maneuver to claim improper tax breaks from his troubled Chicago tower, according to an Internal Revenue Service inquiry uncovered by The New York Times and ProPublica. Losing a yearslong audit battle over the claim could mean a tax bill of more than $100 million. The 92-story, glass-sheathed skyscraper along the Chicago River is the tallest and, at least for now, the last major construction project by Mr. Trump. But when Mr. Trump sought to reap tax benefits from his losses, the I.R.S. That move resulted in Mr. Trump reporting losses as high as $651 million for the year, The Times and ProPublica found.

Persons: Donald J, Trump, ProPublica Organizations: Internal Revenue, The New York Times, Mr, Times Locations: Chicago

☆ Trump could owe more than $100 million in taxes as a result of IRS inquiry, New York Times report says
▼ + stars: | 2024-05-11 | by ( Eric Bradner | ) edition.cnn.com time to read: +2 min

CNN —Former President Donald Trump could owe more than $100 million in taxes as a result of a yearslong Internal Revenue Service inquiry into claims of huge losses on his Chicago skyscraper, The New York Times and ProPublica reported Saturday. The 2008 claim resulted in Trump reporting losses as high as $651 million for the year, and there is no indication it drew an IRS challenge, the outlets reported. Then, Trump’s lawyers enabled further claims of losses in 2010 by shifting the Chicago tower into another partnership, “DJT Holdings LLC,” The Times and ProPublica reported. The outlets calculated the revision sought by the IRS could result in a tax bill of more than $100 million. “This matter was settled years ago, only to be brought back to life once my father ran for office.

Persons: Donald Trump, ProPublica, Trump, —, “, ” Trump’s, Eric Trump Organizations: CNN, Internal, New York Times, Trump, “ DJT Holdings, The, Trump Organization, Times Locations: Chicago, Trump’s Chicago

The Major Supreme Court Cases of 2024No Supreme Court term in recent memory has featured so many cases with the potential to transform American society. In 2015, the Supreme Court limited the sweep of the statute at issue in the case, the Sarbanes-Oxley Act of 2002. In 2023, the Supreme Court temporarily blocked efforts to severely curb access to the pill, mifepristone, as an appeal moved forward. A series of Supreme Court decisions say that making race the predominant factor in drawing voting districts violates the Constitution. The difference matters because the Supreme Court has said that only racial gerrymandering may be challenged in federal court under the Constitution.

Persons: Donald J, Trump, Anderson, Sotomayor Jackson Kagan, Roberts Kavanaugh Barrett Gorsuch Alito Thomas, Salmon, “, ”, Mr, Nixon, Richard M, privilege.But, Fitzgerald, Vance, John G, Roberts, Fischer, Ruth Bader Ginsburg, Clarence Thomas, Samuel A, Alito Jr, Alito, ’, Moyle, Wade, Roe, Johnson, Robinson, Moody, Paxton, Robins, Media Murthy, Sullivan, Murthy, Biden, Harrington, Sackler, Alexander, Jan, Raimondo, ” Paul D, Clement, Dodd, Frank, Homer, Cargill Organizations: Harvard, Stanford, University of Texas, Trump, Liberal, Sotomayor Jackson Kagan Conservative, Colorado, Former, Trump v . United, United, Sarbanes, Oxley, U.S, Capitol, Drug Administration, Alliance, Hippocratic, Jackson, Health, Supreme, Labor, New York, Homeless, Miami Herald, Media, Biden, National Rifle Association, Rifle Association of America, New York State, Purdue Pharma, . South Carolina State Conference of, Federal, Loper Bright Enterprises, . Department of Commerce, Chevron, Natural Resources Defense, ”, SCOTUSPoll, Consumer Financial, Community Financial Services Association of America, Securities, Exchange Commission, Exchange, Occupational Safety, Commission, Lucia v . Securities, Federal Trade Commission, Internal Revenue Service, Environmental Protection Agency, Social Security Administration, National Labor Relations Board, Air Pollution Ohio, Environmental, Guns Garland, Alcohol, Tobacco, Firearms, Explosives, National Firearms, Gun Control Locations: Colorado, Trump v . United States, United States, Nixon, Florida, Gulf of Mexico, Dobbs v, Idaho, Roe, Texas, States, New, New York, Grants, Oregon, . California, Martin v, Boise, Boise , Idaho, Missouri, Parkland, Fla, Murthy v . Missouri, . Missouri, ., South Carolina, Alabama, SCOTUSPoll, Lucia v, Western

For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans. Opinion Guest Essay Make Billionaires Pay (Their Taxes)Until recently, it was hard to know just how good the superrich are at avoiding taxes. Let’s agree that billionaires should pay income taxes equivalent to a small portion — say, 2 percent — of their wealth each year. Billionaires who already pay the baseline amount of income tax would have no extra tax to pay. The idea that billionaires should pay a minimum amount of income tax is not a radical idea.

Persons: Emmanuel Saez, Gabriel Zucman, we’ve, Demetrio Guzzardi, Jeff Bezos, Bezos, Berkshire Hathaway, Warren Buffett, Elon Musk, Bernard Arnault, Arnault’s, Arnault, Reagan, Critics, haven’t, Biden Organizations: Government, Social Security, European Economic Association, Institut des Politiques, Economic, Amazon, Elon, Twitter, Shepard, Getty, Trump, Internal, Abaca, New York, Facebook Locations: United States, Netherlands, States Netherlands Italy France, Italy, France, Tesla, LVMH, America, Europe, Sweden, Germany, Switzerland, U.S, Brazil, South Africa, Spain

☆ DOJ charges 'Bitcoin Jesus' with $48 million tax fraud, seeks extradition
▼ + stars: | 2024-05-01 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

(Photo by Danny Lee/South China Morning Post via Getty Images)The Justice Department unveiled criminal tax fraud charges this week against a prolific bitcoin investor named Roger Ver. He came to be known as "Bitcoin Jesus," for getting in early on the digital currency and making a fortune. The DOJ alleges that in preparing those tax filings, Ver underrepresented his bitcoin holdings and evaded taxes on them. The United States is seeking his extradition to face trial on eight counts related to tax evasion, mail fraud and filing false tax returns. According to the indictment, the IRS used a strategy called "clustering analysis" to track the blockchain and identify Ver's bitcoin transactions.

Persons: Roger Ver, Danny Lee, Ver, Bryan Skarlatos, bitcoin Organizations: South China Morning, Getty, Justice Department, Internal Revenue Service, DOJ, CNBC, eBay, IRS Locations: South, California, Caribbean, St, Kitts, Nevis, U.S, Spain, United States, Pest

☆ Biden administration plans to reclassify marijuana, easing restrictions nationwide
▼ + stars: | 2024-04-30 | by ( Julie Tsirkin | Monica Alba | ) www.cnbc.com time to read: +7 min

"DOJ continues to work on this rule," a Biden administration official said. "No one should be jailed for using or possessing marijuana," the president said during the speech. "Reclassifying marijuana as a Schedule III drug sends the message that marijuana is less addictive and dangerous now than ever before. US President Joe Biden speaks during the White House Correspondents' Association (WHCA) dinner at the Washington Hilton, in Washington, DC, on April 27, 2024. Nearly six in ten Americans say that marijuana should be legal for medical and recreational purposes, according to a Pew Research poll last month.

Persons: John Tlumacki, Biden, Joe Bidens, Tom Williams, Joe Biden, Barack Obama's, Jim Cole, Obama, Cole, Kevin Sabet, Brendan Smialowski, Brad Horrigan Organizations: Delta, Trade, Boston Globe, NBC, Drug, Department of Health, Human Services, DOJ, Biden, Internal Revenue, Justice's, DC Marijuana Justice, CQ, Inc, Getty, State, National Cannabis Roundtable, NBC News, Smart, Marijuana, Obama Administration, White, Correspondents ' Association, Washington Hilton, AFP, Management, CRA, Pew Research, Florida Supreme, Tribune, Service Locations: Wareham, deducting, New York, California, Washington ,, Florida

☆ Over $1 billion in unclaimed tax refunds is set to expire in just over 2 weeks, IRS says—here’s how to claim yours
▼ + stars: | 2024-04-30 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

The Internal Revenue Service says more than $1 billion in unclaimed tax refunds from the 2020 tax year is sitting in its coffers. Around 940,000 people across the U.S. have until May 17 to submit their 2020 tax returns and claim their portion of the unclaimed funds, according to the IRS. "There's money remaining on the table for hundreds of thousands of people who haven't filed 2020 tax returns," IRS Commissioner Danny Werfel said in March. Typically, tax filers have three years to claim old refunds by the April 15 tax filing deadline. The IRS says that your refund may be withheld if you haven't filed your 2021 and 2022 tax returns.

Persons: haven't, Danny Werfel, Werfel Organizations: Internal Revenue Service, IRS

How to cancel your life insurance policyCanceling a term life insurance policyThere are several ways to cancel a term life insurance policy. Alternatives to life insurance cancelationcanceling your life insurance policy isn't ideal if you have dependents who rely on your income for financial support. If you have a whole life insurance policy, look into reduced paid-up life insurance. Life insurance settlementIf you don't have a terminal diagnosis and you want to sell your term life insurance policy, you can apply for a life insurance settlement with a third-party provider instead of canceling your policy. Canceling life insurance FAQsWill I get any money back if I cancel my life insurance policy?

Persons: Lucas Siegel, Siegel, wouldn't, policyholders, you've Organizations: Internal Revenue Service

☆ Costco shoppers are finding it's harder to sell gold than to buy it
▼ + stars: | 2024-04-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Read previewWhenever Costco releases a batch of gold bars for sale, the supply sells out "within a few hours" as shoppers snap up the precious metal for a small markup over its spot price. The out-of-stock notices give the allure of a hard-to-get item, but the wholesale club is still moving a lot of gold bars and silver coins — to the estimated tune of $200 million a month. This story is available exclusively to Business Insider subscribers. Unlike cash or even gift cards, Costco classifies gold bars as collectibles, which may or may not retain their value over time. AdvertisementFor that matter, the Internal Revenue Service also considers gold bars as a collectible too, and demands as much as a 28% cut of any profits on gold held for more than one year.

Persons: —, Lark Mason, Adam Xi, it's Organizations: Service, Costco, Business, Street Journal, Internal Revenue Service Locations: New York

☆ Oracle met with Senate aides about TikTok data storage after House ban passed
▼ + stars: | 2024-04-22 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

The House legislation would require TikTok's China-based parent company ByteDance to divest the social media app, or face an eventual ban in the United States. Glueck said Oracle did not lobby for or against the TikTok bill, and only disclosed the meetings on mandatory filings in order to be transparent. "In a TikTok ban or shut-down scenario, Oracle would lose what is likely its largest OCI [Oracle Cloud Infrastructure] customer. Though the initial House bill briefly stalled in the Senate, a similar piece of legislation passed the House on Saturday and already has key support in the Senate. The services included providing congressional offices "technical assistance" in regards to the TikTok legislation, according to the disclosures.

Persons: Ken Glueck, Oracle, Glueck, Sen, Maria Cantwell, Mark Warner, Both Cantwell, Warner, Joe Biden, TikTok Organizations: Oracle, CNBC, Fierce Government Relations, Polaris Government Relations, Senate, Intelligence Committee, Oracle Cloud Infrastructure, UBS, TikTok, Intelligence, Records, Polaris, Internal Revenue Service Locations: Washington, United States, China

I think providing aid to Ukraine right now is critically important,” the speaker added. House TVThe speaker’s embrace of Ukraine aid represents a remarkable evolution for Johnson, who voted against funding for the country as a rank-and-file member. Johnson drags his feetJohnson did not come to his decision on how to handle foreign aid quickly. “Slow,” New York Rep. Gregory Meeks, the top Democrat on the House Foreign Affairs Committee, said when asked how Johnson handled Ukraine aid. In recent weeks, allies counseled Johnson to keep the former president in the loop on his potential foreign aid plans.

Persons: Manu Raju ”, Johnson, Mike Johnson, Hakeem Jeffries, Jeffries, Taiwan –, Michael McCaul, “, ” Johnson, Derrick Van Orden, Matt Gaetz, ”, Johnson –, Kevin McCarthy, –, Joe Biden, Donald Trump’s, Mike Pompeo, Volodymyr Zelensky, Zelensky, Bill Burns, Marjorie Taylor Greene, ” Jeffries, Biden, Mitch McConnell, Gregory Meeks, Patrick McHenry of, Trump, Johnson’s, ” Trump, Eli Crane, McCarthy, Bob Good, Johnson “, Greene, Al Green, Van Orden, Gaetz, I’m, ” Van Orden, Chip Roy’s, Bob Good’s, Kent Nishimura, Paul Gosar, Johnson’s speakership, We’re, we’ve, Tom Cole of, ” Cole, “ There’s, Warren Davidson, CNN’s Haley Talbot, Morgan Rimmer Organizations: GOP, CNN, Democratic, Louisiana Republican, Foreign, ”, Florida Republican, Senate, Republican, Ukraine, CIA, Naval Academy, Israel, Internal Revenue Service, New York Rep, House Foreign Affairs, Patrick McHenry of North Carolina, Lago, Arizona, Democratic Rep, Navy, Navy Seals, Wisconsin Republican, Capitol, Democrats, Republicans, GOP Rep, ” Veteran GOP Locations: Iran, Israel, Ukraine, Washington, Louisiana, Taiwan, Florida, American, Marjorie Taylor Greene of Georgia, Patrick McHenry of North, Iranian, Virginia, Texas, Wisconsin, House, Arizona, Tom Cole of Oklahoma, Ohio

☆ Thousands Are Eligible for Tax Refunds From 2020
▼ + stars: | 2024-04-19 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

Who wouldn’t grab an income tax refund if they had one coming? About 940,000 people, it turns out — because they haven’t filed returns for the 2020 tax year, even though they may be due money back for that year. But there’s still close to a month left to file and collect the refunds. The Internal Revenue Service estimates that the typical refund for the people in this group is more than $900. “There’s money remaining on the table for hundreds of thousands of people who haven’t filed 2020 tax returns,” the I.R.S.

Persons: there’s, “, haven’t, Daniel Werfel, Werfel, Eric Smith Organizations: Internal Revenue Service Locations: Idaho, New York, Pennsylvania

“I am not resigning,” Johnson told reporters. Massie told Republican colleagues behind closed doors Tuesday morning that he will cosponsor the motion to vacate Johnson from his position. And then I said, ‘Well, you’re the one who’s going to put us into this,’ because the motion is going to get called up. In making his announcement Monday, the Louisiana Republican predicted the House will vote Friday evening on the separate bills. The Senate passed its bill in February – a $95.3 billion foreign aid bill with assistance for Ukraine, Israel and other priorities.

Persons: Mike Johnson, Johnson, Thomas Massie, “, ” Johnson, Massie, Marjorie Taylor Greene, Trent Kelly, Mississippi, it’s, ” Massie, Kevin McCarthy, –, Republicans “, Republican – Greene –, ”, CNN’s Morgan Rimmer Organizations: Republican, Republican Rep, Louisiana Republican, CNN, Democratic, GOP, Republicans, Democrats, Senate, Internal Revenue Service Locations: Ukraine, Israel, Louisiana, Taiwan, Georgia

Johnson predicted the House will vote Friday evening on the separate bills. “My personal preference is to do it individually, but we’ll let the body decide.”Among the ways GOP leaders plan to address Ukraine aid: a bill to seize Russian assets, a lend-lease program for Ukraine military aid and convertible loans for humanitarian relief. Former President Donald Trump, who recently met with House Speaker Mike Johnson at Mar-a-Lago, has expressed openness to structuring Ukraine aid as a loan. The Senate passed its bill in February – a $95.3 billion foreign aid bill with assistance for Ukraine, Israel and other priorities. A significant number of House Republicans are opposed to sending further aid to Ukraine.

Persons: Mike Johnson, Johnson, ” Johnson, Marjorie Taylor Greene, ” Greene, “, haven’t, that’s, we’ll, Donald Trump, Kevin Hern, Hakeem Jeffries, ” Jeffries, Greene, ”, “ He’s, he’ll, Marjorie, President Trump, CNN’s Morgan Rimmer, Kristin Wilson Organizations: CNN, Louisiana Republican, GOP, Republican, Senate, Republicans, Democratic, Internal Revenue Service, Fox News, White House Locations: Israel, Ukraine, Mar, Oklahoma, Louisiana, East, Eastern Europe

☆ Biden and his wife report $620,000 income in 2023 tax returns
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: +3 min

President Joe Biden and his wife Jill on Monday released tax returns showing that their income rose 7% to $619,976 in 2023 and that the couple paid 23.7% of their income in federal taxes. Biden released the data on the day U.S. taxes for the prior year are due, and as the Democrat seeks re-election in 2024. Joe Biden drew a $400,000 wage, while Jill Biden earned $85,985 from her job teaching English at Northern Virginia Community College. The proportion of Joe Biden's income that went to federal taxes was roughly equal to the prior year. Biden's running mate Vice President Kamala Harris and her husband, Douglas Emhoff, also released a tax return showing $450,380 income for 2023, federal taxes of $88,570 and charitable donations of $23,026.

Persons: Joe Biden, Jill Biden, Jill, Biden, Donald Trump, Trump, Joe Biden's, Kamala Harris, Douglas Emhoff Organizations: White, Democrat, Republican, Internal Revenue Service, U.S . House, Northern Virginia Community College, Epilepsy Foundation, of Police Locations: Virginia, Washington , U.S, New York, Scranton , Pennsylvania, Pennsylvania

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIRS' criminal investigation chief says agency prepared for crypto tax crimes: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Guy Ficco, criminal investigation chief at the Internal Revenue Service, explains how your crypto holdings could affect your tax obligations.

Persons: explainers, Guy Ficco Organizations: IRS, CNBC Crypto, CNBC, Internal Revenue Service

☆ Shohei Ohtani’s former interpreter is in negotiations to plead guilty over theft and gambling, the NYT reports
▼ + stars: | 2024-04-10 | by ( Joe Sutton | Jason Hanna | ) edition.cnn.com time to read: +4 min

CNN —A former interpreter for Los Angeles Dodgers superstar Shohei Ohtani is in negotiations to plead guilty to federal crimes related to accusations he stole millions from Ohtani and used it for gambling, the New York Times reported Wednesday, citing three people familiar with the matter. Ippei Mizuhara was fired last month after Ohtani’s lawyers accused him of stealing from Ohtani and placing bets with a bookmaker who is under federal investigation. Ohtani later alleged Mizuhara stole the money from his bank account. “I’m very saddened and shocked that someone who I’ve trusted has done this,” Ohtani, Major League Baseball’s only two-way player, said. ESPN’s Tisha Thompson, citing multiple unnamed sources, said on CNN’s “The Lead” last month at least $4.5 million was withdrawn via wire transfer from Ohtani’s bank accounts, though it was unclear who initiated the transfers.

Persons: CNN —, Shohei Ohtani, Mizuhara, Ohtani, Michael Freedman, “, ” Ohtani, I’ve, ESPN’s Tisha Thompson, gambles, CNN’s Raja Razek, De la Fuente, Steve Almasy, Dalia Faheid, Elizabeth Wolfe Organizations: CNN, Los Angeles Dodgers, New York Times, Prosecutors, Dodgers, MLB, ESPN, Los Angeles Times, baseball’s, Dodger, League Baseball’s, Internal Revenue Service, Major League Baseball, American League Locations: Ohtani, South Korea, Seoul, Korea

☆ FAFSA is still having major issues and delaying financial aid decisions—how students and families can cope
▼ + stars: | 2024-04-05 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

Numerous hiccups in the rollout of the updated Free Application for Federal Student Aid have upended this year's financial aid award season. By now, most of the problems with submitting the form have been resolved, but getting the FAFSA information from the ED's Federal Student Aid office to colleges has introduced another slew of issues. "Continually taking two steps forward and one giant step back is not a sustainable pathway toward getting financial aid offers out to students and families." Outside of those erroneous forms being reprocessed, FSA said as of April, schools should start receiving students' financial information within one to three business days of the student submitting their FAFSA. Still, some students may feel the pressure to commit to a school before they've seen all the financial aid offers available to them or skip the FAFSA — and potentially college — process altogether.

Persons: Justin Draeger, they've Organizations: Federal, Education, National College, Aid, Internal Revenue Service, IRS, National Association of Student Financial

☆ 25% of Gen Zers say they'll need a therapist to deal with tax filing stress—here's the first step to take to make it easier
▼ + stars: | 2024-04-01 | by ( Annie Probert | ) www.cnbc.com time to read: +4 min

You will receive a W-2 form from your employer if you worked for a paycheck or earned at least $600 in 2023. You can find the 1099-INT form by logging into your bank account and following directions to tax documents. But even if you don't get a form from your exchange, "that doesn't mean you don't need to report it," says Pianoforte. The IRS's frequently asked questions on crypto transactions is also helpful for answering more detailed questions about how to report crypto on your taxes. Form 1098-TIf you're paying college tuition, a 1098-T form will help determine which education-related tax credits you're eligible for.

Persons: doesn't, Pianoforte, filers, Read, haven't, you've, Douglas Boneparth Organizations: Internal Revenue Service, NEC, cryptocurrency, CNBC, Bone

☆ Why they don't teach you how to do your taxes in school—and how to actually get started
▼ + stars: | 2024-04-01 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Personal finance education itself is catching on, but is still pretty sparse in American schools. Just 25 states guarantee a standalone personal finance course for students before graduation, according to Next Gen Personal Finance . And there are a number of reasons taxes may not be a part of the curriculum in those programs. "Because people don't have the background in tax law, some people don't know what ordinary income is," Donnellan says. Common credits include the Child Tax Credit for parents and guardians of qualifying dependents and the Earned Income Tax Credit for low to moderate-income earners.

Persons: Abby Donnellan, Donnellan, You'll Organizations: Finance, CNBC, Revenue, IRS, Child

☆ MLB commissioner hopes Shohei Ohtani investigation is short, ‘but I just don’t know’
▼ + stars: | 2024-03-29 | by ( Ben Morse | Jill Martin | ) edition.cnn.com time to read: +4 min

CNN —Major League Baseball commissioner Rob Manfred said on Thursday that he hopes the league’s investigation into superstar Shohei Ohtani is short, “but I just don’t know” how long it will take. The build-up to the new MLB season was overshadowed following the recent gambling scandal involving Ohtani and his former longtime interpreter Ippei Mizuhara. The Internal Revenue Service and Major League Baseball are investigating the matter, with the league trying to determine whether its strict rules against gambling have been broken. MLB commissioner Manfred can also penalize someone who goes outside legal sports betting entities and gambles with a bookie. The situation involving Ohtani has raised further questions abouts sport’s relationship with betting in the US as the industry continues to grow.

Persons: Rob Manfred, Shohei Ohtani, Ohtani, Ippei, Mizuhara, Manfred, Chris ‘, ’ Russo, Ron Jenkins, Tisha Thompson, gambles, abouts, ”, Russo, “ Organizations: CNN — Major League Baseball, MLB, Dodgers, ESPN, Los Angeles Times, baseball’s, League, MLB Network, American League, Baltimore Orioles, Texas Rangers, Internal Revenue Service, Major League Baseball, NFL, “ Sports Locations: South Korea, Seoul, Ohtani, United States

☆ How the Cartels Launder Their Drug Money, According to a Former Agent
▼ + stars: | 2024-03-28 | by ( Kyle Desiderio | Ju Shardlow | ) www.businessinsider.com time to read: +2 min

Robert Mazur tells the full story of his time as a government agent investigating drug-money laundering. Mazur went undercover for the US Drug Enforcement Administration, the Internal Revenue Service intelligence division, and the Customs Service. In Operation C-Chase, Mazur successfully infiltrated the Medellín cartel by posing as a wealthy, mob-connected businessman named Robert Musella. At its peak, the Cali cartel is estimated to have produced 80% of the world's cocaine supply. It was controlled by Gilberto Rodríguez Orejuela, Miguel Rodríguez Orejuela, Pacho Herrera, and José Santacruz Londoño.

Persons: Robert Mazur, Mazur, Robert Musella, Pablo Escobar's, Gonzalo Mora, Roberto Alcaino, Robert Baldasare, Gilberto Rodríguez Orejuela, Miguel Rodríguez Orejuela, Pacho Herrera, Londoño, Bryan Cranston, John Leguizamo, Diane Kruger, B095BKWD8L Read Organizations: US Drug Enforcement Administration, Internal Revenue Service, Customs Service, New York Times, KYC Locations: Italian American, Cali

☆ Comer invites Biden to testify before the Oversight Committee
▼ + stars: | 2024-03-28 | by ( Annie Grayer | ) edition.cnn.com time to read: +4 min

“Comer knows 20+ witnesses have testified that POTUS did nothing wrong. Yet, in his letter to Biden, Comer outlined the four phases of his investigation that included obtaining bank records and witness testimony that led him to seeking the president’s testimony. Various Biden family business associates have testified they have had surface level interactions with Biden, but none have said they discussed business with the president, either while he was in office or as a private citizen. “What do you think they would do if we Impeached Biden?” Comer wrote earlier this week. House Speaker Mike Johnson announced Thursday that the House will send over the Mayorkas impeachment articles to the Senate on April 10.

Persons: James Comer, Joe Biden, –, ” Comer, “ Comer, POTUS, he’s, ”, Ian Sams, Biden, Comer, James Biden, Alejandro Mayorkas, Mike Johnson Organizations: Republicans, White, Kentucky Republican, GOP, Department of Justice, Internal Revenue Service, House Republicans, Democratic, CNN, Department of Homeland, Senate

☆ Shohei Ohtani plays in Dodgers’ loss to Angels after addressing gambling and theft allegations against former interpreter
▼ + stars: | 2024-03-26 | by ( Homero De La Fuente | ) edition.cnn.com time to read: +2 min

CNN —Japanese two-way star Shohei Ohtani went hitless for a second straight game as the Los Angeles Dodgers fell to the Los Angeles Angels 6-0 on Monday at Dodger Stadium. Before the game, the two-time MVP spoke publicly for the first time since gambling and theft allegations against his former interpreter, Ippei Mizuhara, came to light last week. Ohtani prepares to bat against the Los Angeles Angels on Monday. The Internal Revenue Service and Major League Baseball are investigating the matter, with the league trying to determine whether its strict rules against gambling have been broken. The Dodgers will close out the three-game exhibition against the Angels on Tuesday.

Persons: Shohei Ohtani, Ohtani, Ippei Mizuhara, “, I’ve, ”, Will Ireton, Mizuhara, ” Ohtani, Jae C, gambles, ESPN’s Tisha Thompson Organizations: CNN, Los Angeles Dodgers, Los Angeles Angels, Dodger, Dodgers, ESPN, Internal Revenue Service, Major League Baseball, American League, Angels Locations: South Korea

☆ How a New Rule Could Change the Way Advisers Handle Your Retirement Money
▼ + stars: | 2024-03-26 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

It seems like an issue everyone can agree on: Financial professionals should be required to handle our retirement money with the utmost care, putting investors’ interests first. The issue has re-emerged as the department prepares to release a final rule that would require more financial professionals to act as fiduciaries — that is, they’d be held to the highest standard, across the investment landscape, when providing advice on retirement money held or destined for tax-advantaged accounts, like individual retirement accounts. Most retirement plan administrators who oversee the trillions of dollars held in 401(k) plans are already held to this standard, part of a 1974 law known as ERISA, which was established to oversee private pension plans before 401(k)s existed. But it doesn’t generally apply, for example, when workers roll over their pile of money into an I.R.A. Nearly 5.7 million people rolled $620 billion into I.R.A.s in 2020, according to the latest Internal Revenue Service data.

Persons: they’d Organizations: U.S . Labor Department, Internal Revenue Service

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