The Internal Revenue Service has been turning up its scrutiny on cryptocurrency investors in recent years, and as that happens, more investors have been turning to the tax code’s rules on investment l...
Tag: Executive Branch
The U.S. job market is strong, but layoffs are on the rise. Is this a good — or bad — time to ask for a raise? Experts weigh in.
Is this an opportune time to ask for a raise? Or, given the recent spate of tech layoffs, is it better to lie low for a while? The good news: Employers are giving pay raises. The increase in wages ov...
Trump Organization CFO Weisselberg chokes up on witness stand, claims his ‘personal greed’ drove $1.7 million tax-avoidance scheme
NEW YORK (AP) — Donald Trump’s longtime finance chief choked up on the witness stand Thursday, saying he betrayed the Trump family’s trust by scheming to dodge taxes on $1.7 million in company-paid pe...
U.S. Treasury says currency-market intervention should be reserved for ‘very exceptional circumstances’ in response to Japan’s September move
The U.S. Treasury Department on Thursday said it expects currency-market interventions, like Japan’s in September, should be reserved for exceptional circumstances, as it kept Tokyo on a list of partn...
U.S. Treasury sweetens the pot on I-bonds by adding a fixed rate
After record-breaking sales of I-bonds in October, the U.S. Treasury is dangling another good deal in front of savers for the next six months. Starting Nov. 2, when I-bonds will be available again af...
Rethinking China: Xi’s Power Play Could Bring Down Stocks Even More
Chinese stocks have lost roughly half their market value, or almost $1.5 trillion, over the past two years. But the damage may not be over as investors reassess their China allocations after President...
TSMC’s stock slumps after reported diss of U.S. chip efforts; industry downgrades also weigh on sector
Chip stocks lagged behind the broader market Monday following one report that Taiwan Semiconductor Manufacturing Co. is pessimistic about U.S. efforts to build domestic capacity, and another that said...
Depleting strategic oil reserves could prove ‘painful in the months to come’: Saudi energy minister
“‘It is my profound duty to make it clear to the world that losing emergency stock may become painful in the months to come.’” — Prince Abdulaziz bin Salman, Saudi energy minister That’s Prince Abdula...
Financial Advisor Pleads Guilty to Fraud After Airport Arrest
A Massachusetts investment advisor has pleaded guilty to multiple counts of fraud and other charges after a failed attempt to flee the country while he was awaiting trial. Steven Xigoros, of Lowell, M...
IRS releases new federal tax brackets and standard deductions. Here’s how they affect your family’s tax bill.
America’s high inflation rate will produce a 7% increase in the size of the standard deduction when workers file their taxes on their 2023 income, according to new inflation adjustments from the Inter...
Do you have problems with the IRS — or does the IRS have a problem with you? Read this before you act.
How do you deal with a problem like the Internal Revenue Service? And how do you deal with your own tax problems as they pertain to the IRS? To be clear, I’m not talking about major problems like righ...
IRS sets new 401(k) limits — investors can save a lot more money in 2023
People can contribute up to $22,500 in 401(k) accounts and $6,500 in IRAs in 2023, the IRS said Friday. For 401(k)s, that’s an almost 10% increase from 2022’s contribution limit of $20,500. For IRAs, ...
U.K. Markets Cheer After Liz Truss Resigns. Stocks, Bonds, and the Pound Gain.
British investors cheered the resignation of Prime Minister Liz Truss, whose recent budget plans disrupted markets and prompted intervention by the Bank of England. Stocks, bonds, and the pound crept ...
U.S. Suppliers Halt Operations at Top Chinese Memory Chip Maker
BEIJING–U.S. chip-equipment suppliers are pulling out staff based at China’s leading memory-chip maker and pausing business activities there, according to people familiar with the matter, as they grap...
That Sky-High I Bond Interest Rate Will Be Coming Down to Earth
Inflation-adjusted Series I savings bonds have been the most enticing place to park your cash this year—nearly 10% interest, backed by the U.S. government, the safest investment around. In a few weeks...
Exxon Improperly Fired Scientists Suspected of Sharing Information, Labor Department Finds
Listen to article (2 minutes) The Labor Department said it found Exxon Mobil illegally fired two company scientists over suspicions they shared information with The Wall Street Journal about concerns ...
Trump Files Defamation Lawsuit Against CNN, Seeking $475 Million
Former President Donald Trump filed a defamation lawsuit Monday against CNN, accusing the network of engaging in a smear campaign against him in the lead-up to the 2024 presidential race. Mr. Trump’s ...
Trump files $475 million lawsuit against CNN, claiming defamation
NEW YORK — Former President Donald Trump on Monday sued CNN, seeking $475 million in damages, saying the network had defamed him in an effort to short-circuit any future political campaign. The lawsui...
Supreme Court won’t hear MyPillow CEO Mike Lindell’s defamation case
WASHINGTON (AP) — The Supreme Court says it won’t intervene in a lawsuit in which Dominion Voting Systems accused MyPillow chief executive Mike Lindell of defamation for falsely accusing the company o...
U.K. Prime Minister Liz Truss Admits Mistake in Communicating Economic Plan
LONDON—U.K. Prime Minister Liz Truss said that her government could have done a better job preparing financial markets for a surprise tax-cut plan funded by increased debt, but otherwise defended the ...
Exxon CEO Warns Biden Administration Against Limiting Fuel Exports
Exxon Mobil is pushing back against reductions of U.S. fuel exports urged by the Biden administration in August, arguing that restricting shipments would further squeeze global supplies and lift pump ...
Trump Might Be Shielded From Defamation Suit, Appeals Court Rules
A federal appeals court said a law shielding U.S. government employees from tort claims could potentially protect former President Donald Trump from a defamation lawsuit brought by a New York writer. ...
The U.K. Economy Is Having a Meltdown. Why It’s Going to Get Worse.
The recent sharp drop in the British pound and in U.K. government bonds means traders are at panic stations, with repercussions being felt across the globe. The spectacular drops in the past month wer...
New York Suit Against Trump Mixes Routine Business Law, Uncommon Allegations
The New York attorney general’s lawsuit against former President Donald Trump uses a common state business law to make allegations about property valuations, which lawyers say are rarely the focus of ...
Ex-Morgan Stanley Advisor Pleads Guilty to $7 Million Fraud
A former Morgan Stanley advisor pleaded guilty on Thursday to wire fraud and money laundering as part of a $7 million fraud scheme, according to the Department of Justice. Ex-advisor Shawn Edward Good...
What’s Stopping Companies from Pulling Supply Chains Out of China
Text size Despite the trade war and Covid-19 lockdowns, China accounts for 35% of total U.S. containerized imports. Mario Tama/Getty Images About the authors: Christopher S. Tang is a University Disti...