The Biden administration seeks to terminate the tax-loss harvesting strategy for crypto investors which would help the White House save $31 billion over a ten year period. On Thursday, March 9, the Bi...
Tag: Loophole
Biden budget proposes closing crypto loophole to raise $24 billion in new revenue
Tucked within President Biden’s budget is a proposal to change the tax treatment of cryptocurrency transactions that would eliminate investors’ ability to take advantage of losses to lower...
Biden Budget Plan Would Close Crypto Tax Loss Harvesting Loophole
The president’s team has already passed one crypto tax-related piece of legislation into law; in 2021, the Bipartisan Infrastructure Framework, which later became the Infrastructure Investment a...
How A U.S. Trade Loophole Called ‘De Minimis’ Is China’s ‘Free Trade Deal’
A worker makes clothes at a garment factory that supplies SHEIN, a cross-border fast fashion … [+] e-commerce company in Guangzhou. (Photo by Jade Gao / AFP) (Photo by JADE GAO/AFP via Getty Ima...
What is the Bitcoin Loophole, and how does it work?
Bitcoin Loophole facilitates Bitcoin (BTC) trading through automated crypto trading software. It uses trading bots to help users make financially sound decisions in the crypto markets to make large ch...
MicroStrategy Opts For Bitcoin Wash Trading Loophole, Tax-Harvesting
As the deadline for tax-loss harvesting looms, MicroStrategy offloaded more than 700 bitcoins last week, selling the tokens at a loss with the expectation of lowering its tax bill in the future, accor...
Online casino uses crypto loophole to lure back gambling addict
A recovering gambling addict lost $300,000 to an online casino after the site showed him how he could use crypto to bypass banking restrictions and licensing laws. Australian Blake Barnard was winnin...
A loophole allowed FTX to secure its Aussie license without full checks: ASIC’s Longo
Joseph Longo, the chairman of the Australian Securities and Investments Commission (ASIC) is calling for a regulatory loophole to be closed that allowed FTX to acquire an Australian Financial Services...
EU’s MiCA Law May Have an FTX-Shaped Loophole
MiCA broadly allows the practice, but, compared to other EU financial service laws, includes stronger powers for supervisors to stop solicitation being abused – including an ad ban for unauthori...
Illegal For 79 Years, This Loophole Lets Regular Americans Invest Alongside Silicon Valley Insiders
For 79 years, if you wanted the right to invest in early-stage companies like Apple in the 1970s, Facebook in 2004, or Airbnb in 2009, you had to be an “accredited investor.” The concept came from a 1...
Home of the Corporate Tax Loophole
That trial took place in Delaware because Twitter, Inc. has its corporate registration there. So do Amazon, Google, Walmart and Meta (formerly Facebook). In fact, companies responsible for an incredib...
FTX users may be cashing of bankrupt crypto exchange through a Bahamas loophole
Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Some FTX users appear to have f...
Desperate FTX customers may have exploited NFT-linked loophole to recover funds before bankruptcy filing
FTX’s bankruptcy means some customers will have to wait months, or even years, to regain their deposits, assuming they can at all. A daring few apparently didn’t want to take that chance. According to...
FTX NFTs Provided Loophole For Non-Bahamas Residents Wanting to Withdraw Funds
FTX Group has filed for Chapter 11 bankruptcy in the US, and customers have been scrambling to get their money off the platform — by any means necessary. The crypto exchange had re-enabled withdrawals...
FTX users exploit loophole to withdraw crypto
Listen to this article. As the FTX meltdown continues, worried users are turning to inventive, risky, and most probably illegal workarounds to attempt to extract what funds they can from the Bahamas-b...
Supreme Court Needs To Close Loophole That Lets New York Cops Seize Guns Without Warrants
Thanks to a little-known loophole, lower federal courts have regularly written the government a blank check to search homes and seize firearms from lawful gun owners without a warrant. One of those ow...
What to Know About the 529 Grandparent Loophole
SmartAsset: How the 529 Grandparent Loophole Works A 529 plan can be a powerful way to save for college, offering tax-free growth and other tax benefits. These accounts are so powerful, in fact, that ...
Earned Over $500k Using An Apparent Loophole
Join Our Telegram channel to stay up to date on breaking news coverage Decentralized Exchange (DEX) Platform GMX has confirmed a price manipulation exploit by a whale who managed to take advantage of ...
How to Buy More than $10,000 in I Bonds Through This Loophole
i bonds limit loophole In a world where the stock market is unpredictable and interest rates are rising, many investors are looking for someplace to put their money that is as close to risk-free as po...
Democrats Want to End Lucrative Retirement Loophole
Democrats are proposing a number of tax reforms related to retirement accounts, including the elimination of backdoor Roth IRA conversions for the wealthiest Americans. Congressional Democrats want to...
Btc loophole pro an intelligent trading app
In today’s world, making money online is popular. There are so many ways of online earning but the most profitable and convenient is online trading. In online trading, you can buy and sell products in...
The Inflation Reduction Act should have closed this tax loophole for the rich. Here’s the real cost of Sen. Sinema’s decisive vote
On Sunday, Senate Majority Leader Chuck Schumer and Sen. Joe Manchin struck a deal with Arizona Sen. Kyrsten Sinema to pass the Inflation Reduction Act of 2022. The deal came with a special compromise...
‘We expect it to be removed’: Democrats’ push to close ‘carried interest loophole’ in jeopardy as Sinema seeks to block effort
Sen. Kyrsten Sinema has signaled her opposition to closing a controversial tax loophole that allows carried interest to be taxed as capital gains instead of income, according to multiple reports. As a...
Hedge fund legend Bill Ackman urges Biden to close the loophole that helped make him billions
William Ackman isn’t known for his political takes. Typically, the billionaire hedge fund manager spends his time dissecting corporate financials, looking for his next high-profile investment or activ...
Bill Ackman slams carried interest ‘loophole’ as Democrats take aim at tax rule
Washington Democrats may have found an unlikely ally in their bid to end a long time tax rule enjoyed by some of Wall Street’s richest executives: hedge fund billionaire Bill Ackman. The Pershing Squa...
Senate Reconciliation Bill Would Close Carried Interest Loophole. What It Means for Private Equity.
Text size Sen. Joe Manchin wants to eliminate a provision giving favorable tax treatment to the private-equity industry. Alex Wong/Getty Images In a surprise, Senate Democrats reached a deal on a bill...
Loophole Spotted in NBA Association Non-Fungible Tokens as Attacker Exploits Code To Mint 100 NFTs
– Advertisement – The attacker exploited the loophole and minted 100 Association NFTs. Less than 24 hours after the National Basketball Association (NBA) announced the minting of its Eth...
Three Bored Ape Owners Sue OpenSea over Security Loophole of Stolen NFTs
Three Bored Ape Yacht Club (BAYC) Non-Fungible Token (NFT) owners, namely Timmy McKimmy of Texas, Michael Valise of New York, and Robert Armijo of Nevada, are suing legacy NFT trading platform OpenSea...
IRS May Close This RMD Loophole
403(b) RMDs Most Americans have at least heard of a 401(k) plan, but there is another tax-advantaged workplace retirement plan out there – the 403(b). A 403(b) operates similarly to a 401(k), bu...
This Bill Could Give You a $60,000 Tax Deduction Loophole
A new bill seeks to repeal the $10,000 cap on state and local tax deductions. Americans who rely on the state and local tax (SALT) deduction at tax time may be in luck. A Democratic proposal aims to r...
‘My husband refuses to pay my student loans.’ Is there some loophole to get him to pay?
How can you get out of student loan debt faster? Getty Images/iStockphoto Question: I am married but unemployed, and my husband refuses to pay my student loans, which I had before we were dating. Do I...