The federal watchdog for the Internal Revenue Service (IRS) faulted the federal agency for not giving guidance on how to handle state stimulus payments, which led to the IRS issuing an alert to taxpayers to delay filing a week ago. Since issuing its alert on Feb. 3, the IRS has not yet provided “additional clarification”…
Rapid Antigen Tests Replace PCR in Australia’s Northern Territory
Rapid Antigen Tests (RAT) have replaced PCR in the Nothern Territory to speed up testing and recording of positive cases. Chief Minister Michael Gunner made the announcement on Thursday, highlighting that the last few weeks have shown that speed of testing provides an advantage over Omicron. “Territorians don’t have to wait as long to get…
Biden’s $600 IRS Taxpayer Reporting Proposal ‘Massive Invasion of Financial Privacy’: Bank Association Exec
Paul Merski, executive vice president for the Independent Community Bankers of America, told NTD’s “The Nation Speaks” program that President Joe Biden’s proposed bank account reporting law being drawn up is a violation of Americans’ financial privacy and is a costly regulatory burden on financial institutions. “This is going to be a massive invasion of…
Banks Oppose Biden’s New Proposal on IRS Reporting
WASHINGTON—Opposition is growing to a new proposal aimed at curbing tax evasion that would be part of the $3.5 trillion reconciliation package under consideration by Congress. The proposal, which is being pushed by the Biden administration, would require banks and other financial institutions to report to the Internal Revenue Service (IRS) any deposits or withdrawals…
US Banking Lobby Groups Oppose Proposed Tax Reporting Law
The largest U.S. banking lobby groups banded together on Friday to make another push to kill a proposed bank account reporting law being drawn up as part of the congressional reconciliation package. In a letter to U.S. House of Representatives Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy, the lobby groups said the proposal…
A Young Chinese Policeman on the Run After Standing Up for Justice for His Father
A Chinese police constable had to resign because his father was being harassed for reporting the illegal operations and breaches of regulations of a local business. Police officers from the public security office went to his home on the evening of Sept. 5 to bring him in for questioning. Luckily he was not there at…
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