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“Trump’s $1.776B anti-weaponization payday has the GOP ‘pissed’” Last week, Republican senators grilled Acting Attorney General Todd Blanche about the $1.8 billion “Anti-Weaponization Fund” created by President Donald Trump’s settlement of his lawsuit against the IRS. About 45 senators attended the meeting, and “at least half of them were blasting the attorney general,” Sen. Ted Cruz (R-Texas) reported. “They…
Palantir has helped the Internal Revenue Service’s Criminal Investigations office probe a variety of financial crimes in the U.S. for much of the last decade, The Intercept reported. The IRS has paid the firm $130 million since 2018 to use its data analysis software to pore over financial records for investigative purposes, the outlet reported,…
Trish Turner is resigning as head of the IRS crypto division after just months, following two private-sector executives who served about a year. Trish Turner has resigned as head of the United States Internal Revenue Service’s (IRS) digital assets division after roughly three months in the role. “After more than 20 years with the IRS,…
The hearing notice suggested a focus on a tax framework for digital assets, but did not mention specific witnesses or policies previously proposed. Lawmakers in the US House of Representatives are scheduled to hold a hearing on a crypto tax policy framework as part of Republicans’ push to consider bills on central bank digital currencies…
The trader sold 62 CryptoPunk NFTs in 2021, earning approximately $7.4 million in profit, followed by the sale of 35 more in 2022 for an additional $4.9 million. A non-fungible token (NFT) trader could face up to six years in prison after pleading guilty to underreporting nearly $13 million in profits from trading CryptoPunks, according…
US President Donald Trump has signed a joint Congressional resolution to repeal a rule that would have required DeFi protocols to report to the Internal Revenue Service. US President Donald Trump on April 10 signed a joint Congressional resolution overturning a Biden-era rule that requires decentralized finance (DeFi) protocols to report to the country’s tax…
Elon Musk’s Department of Government Efficiency (DOGE) plans to host a hackathon next week focused on the creation of a “mega API” that will provide access to taxpayer data, according to Wired. Wired says the hackathon is being organized by two DOGE staffers at the Internal Revenue Service — Gavin Kliger and Sam Corcos, who’s…
US President Donald Trump is expected to sign off on undoing a Biden-era rule that would require DeFi protocols to report to US tax authorities. The US Senate has passed a resolution to kill a Biden administration-era rule to require decentralized finance (DeFi) protocols to report to the Internal Revenue Service, which will now head…
A former IRS contractor pleaded guilty Thursday to charges of leaking tax information about former President Trump and others to news outlets between 2018 and 2020. Charles Littlejohn, 38, was charged by the Justice Department last month for disclosing tax return information on “thousands of the nation’s wealthiest individuals” to a news organization as well as passing…
House Republicans will put their claims of unequal justice for Republicans and Democrats at center stage Wednesday, bringing IRS whistleblowers before the public to blast the government’s investigation into Hunter Biden, the son of President Biden. The hearing will serve in part as a way for Republicans to give former President Trump political cover as…