"Tech Prophet" Who Predicted the iPhone Now Predicts...

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

IRS launches crackdown on 125,000 wealthy 'non-filers'

FATIMA HUSSEIN
February 29, 2024

WASHINGTON (AP) -- The IRS plans to go after 125,000 high-income earners who did not file tax returns going back to 2017 -- and the agency expects to collect roughly $100 billion in back taxes.

Beginning this week, the IRS will start sending out noncompliance letters to more than 25,000 people who earn more than $1 million per year and 100,000 people with incomes between $400,000 and $1 million who failed to pay their taxes between 2017 and 2021.

The campaign announced Thursday is part of the agency's ongoing effort to pursue high wealth tax cheats -- mandated in part by funding provided through Democrats' Inflation Reduction Act passed into law in 2022 and a directive from Treasury Secretary Janet Yellen to IRS leadership not to increase audit rates on people making less than $400,000 a year annually.

"When people don't file a tax return they're required to, it's not fair to those hardworking taxpayers who responsibly do their civic duty under the laws of our nation," IRS Commissioner Daniel Werfel told reporters Thursday morning.

"And when people don't file their taxes, they need to know there's a consequence."

The IRS in recent months has announced a slew of new campaigns aimed at targeting high-wealth individuals who misuse the tax system or fail to pay their obligations.

For instance, last week IRS leadership said the agency will start up dozens of audits on businesses' private jets and how they are used personally by executives and written off as a tax deduction. And earlier this year, the agency announced it had collected roughly half a billion dollars in overdue taxes from delinquent millionaires.

Werfel said the agency's non-filer programs have only run sporadically since 2016 due to lack of funding and staffing. But since the federal tax collector received resources from the IRA, "the IRS now has the capacity to do this core tax administration work," he said.

"This isn't a small group of people we're talking about."

Continue Reading...

Popular

Schwab: Half Of US Investors May Ditch Other Assets For ETFs — 4 Funds To Watch

Nearly half of ETF investors could go all-ETF within five years, Schwab says. Here's how they're building portfolios with funds like ITOT, BND, and XLK.

The AI "End Game" Begins... - Ad

A millionaire insider and tech visionary who recommended 24 different stocks that all went up as much as 1,000%... Now says "This could be your LAST CHANCE to capture the biggest potential AI profits." He recommended AMD at under $2 per share. Now it's $250 - as much as a 12,400% gain... But AI's "End Game" could be his most important work yet.

Marjorie Taylor Greene Buys Blue Chip Stock Near 52-Week Low

Marjorie Taylor Greene is known for buying multiple stocks at a time, based on recent disclosures. A new filing shows one stock bought in November.

Boeing may face its first civil trial seeking damages for deadly Ethiopia crash

More than six years after a jetliner crashed in Ethiopia, the first civil trial stemming from the disaster that killed all 157 people on board appears poised to move forward.

America's Defense Future Starts Underground - Ad

A N. American metals project just caught the attention of Rio Tinto - a mining giant. With four projects in key regions, this firm is aligned with Washington's push to rebuild the defense-metal supply chain.

Shutdown stalemate set to drag into sixth week as Trump pushes Republicans to change Senate rules

WASHINGTON (AP) — Republicans and Democrats remained at a stalemate on the over the weekend as it headed into its sixth week, with for millions of Americans and President Donald Trump pushing GOP leaders to change Senate rules to end it.

Wall Street Enters Its Strongest Month: These 7 Stocks Often Crush It

November is historically Wall Street's strongest month. These 7 stocks often delivered standout gains in recent decades.

Wall Street Elite Bet on Trump's New Dollar - Ad

BlackRock, Fidelity, and ARK Invest all just made the same bet. They backed a 21st-century upgrade to our financial system that experts predict will grow 8-15X in the next 3-5 years. This isn't Bitcoin or speculative crypto - it's a new form of the dollar that will change how you send money, pay bills, and invest for retirement.

All 4 Major Banks Race to Adopt 'Trump Dollars' - Ad

JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup are all rushing to adopt a new, upgraded version of the U.S. dollar that President Trump authorized this past summer. But acclaimed analyst, Louis Navellier, believes this isn't just a minor upgrade - it's a complete transformation to American money.

Typhoon Kalmaegi leaves 26 dead in Philippines, people trapped on roofs and cars submerged

MANILA, Philippines (AP) — Typhoon Kalmaegi has left at least 26 people dead in the Philippines, mostly in flooding set off by the storm, which barreled across the central part of the country on Tuesday, disaster response officials said. Floodwaters trapped scores of people on their roofs and submerged cars.

Pete Hegseth Says War Department Preparing For 'Action' In Nigeria

U.S. Defense Secretary Hegseth agrees with Trump's order to prepare for action in Nigeria to stop the killing of Christians by Islamist militants.

Trump's Hidden Fed Agenda - Ad

Trump's latest moves show he's preparing to reshape the Federal Reserve - and the value of the U.S. dollar. With key appointees already in place, the coming monetary reset could send gold soaring like it did in the 1970s, when it climbed 24X in under a decade.

Cathie Wood Goes All-In On Peter Thiel's Crypto Play Bullish With Back-To-Back Million-Dollar Buys

Cathie Wood-led Ark Invest purchased shares in Bullish, a crypto exchange backed by Peter Thiel, through three of its funds. Other key trades were also made, including buying shares in CRISPR and Beam Therapeutics.

Warren Buffett Opens Up About The Biggest Investing Blunders Of His Career — Here They Are

Over the decades, the "Oracle of Omaha" has shared candid reflections on his biggest blunders, from emotional decisions to missed opportunities, all of which provide timeless investing insights.

Elon's $25 Trillion Confession - Ad

Elon Musk: "Tesla will become a $25 trillion company." That would make Tesla 8x bigger than Apple today. How is that possible? He admits it's all thanks to this one AI breakthrough that will take AI out of our computer screens and manifest a 250x boom here in the real world.

Court Blocks Trump's SNAP Reductions, But Stricter Eligibility Rules Begin

New work requirements for SNAP begin Saturday, but benefits may not be issued through November due to the government shutdown.

Why Did MediciNova Stock (MNOV) Jump Over 87% In After-Hours Trading?

MediciNova shares soared over 87% in after-hours trading on Thursday following the publication of promising research.

Trump's New Plan to Avert a Debt Crisis - Ad

While the media focuses on tariffs and tax cuts, Trump quietly signed Senate Bill 394 - legislation that could end the debt crisis, fight inflation, and restore dollar supremacy. Wall Street insider Louis Navellier says this new law will affect how you spend, invest, and save for years to come.

Cathie Wood Makes $13.4 Million Bet On This Social Network After Earnings Crash — But Dumps Robinhood And Reddit

Ark Invest made significant trades, focusing on Pinterest, Robinhood, and Reddit amid earnings reports. They have confidence in Pinterest's potential despite recent setbacks.

Spotify Premium Subscribers Boost Q3 Revenue, Eyes Strong Holiday Quarter

Spotify (NYSE: SPOT) shares rose after reporting better-than-expected Q3 results, with revenue of $4.99B and 17M new MAUs.

Metals... Not Missles... Is the New Arms Race - Ad

China and Russia control 70% of the world's critical minerals, giving them leverage over the West. One N. American discovery could help shift that balance by developing the metals essential for defense systems.

'No hire' job market leaves unemployed in limbo as threats to economy multiply

WASHINGTON (AP) — When Carly Kaprive left a job in Kansas City and moved to Chicago a year ago, she figured it would take three to six months to find a new position. After all, the 32-year old project manager had never been unemployed for longer than three months.

Rivian Automotive CEO Gets An Elon Musk-Style Pay Raise

Rivian CEO's new pay plan could be worth up to $4.6 billion over the next ten years.

On November 18, a powerful new law signed by President Trump will trigger a radical shift in America's money system... - Ad

When a small group of private companies - not the Fed - will perform a major mint of a new kind of money. And those who act before this new system fully kicks in could see gains as high as 40X by 2032. But those who fail to prepare will be blindsided by this sea change to the U.S. dollar.

Indians who fled a Myanmar cyberscam center are being flown home from Thailand

MAE SOT, Thailand (AP) — is repatriating on Thursday the first batch of hundreds of its nationals who last month fled to Thailand from Myanmar, where most had been working at a .

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Edmunds compares the new BMW X3 and Mercedes-Benz GLC

Compact luxury crossovers are ideal if you’re seeking a compelling blend of utility and style without having to pay full-size luxury SUV pricing. The has been a front-runner since the original model’s introduction in 2003, but it continues to face stiff competition from the .

Ferrari CEO Confirms Electric Car Plans, Raises Full-Year Outlook

Ferrari N.V. stock rose after reporting Q3 results and guidance. Sales grew 7.4% and EPS beat estimates. Net revenues and adjusted EPS outlook raised.

The AI "End Game" Begins... - Ad

A millionaire insider and tech visionary who recommended 24 different stocks that all went up as much as 1,000%... Now says "This could be your LAST CHANCE to capture the biggest potential AI profits." He recommended AMD at under $2 per share. Now it's $250 - as much as a 12,400% gain... But AI's "End Game" could be his most important work yet.

Peloton Stock Rallies After Q1 Earnings: Here's Why

Peloton stock climbs after the company released its first-quarter earnings report after Thursday's closing bell.

America's Defense Future Starts Underground - Ad

A N. American metals project just caught the attention of Rio Tinto - a mining giant. With four projects in key regions, this firm is aligned with Washington's push to rebuild the defense-metal supply chain.

Taylor Swift, Elon Musk, Donald Trump, MrBeast — Robinhood Just Made Their Mojo Tradable

Robinhood has new prediction markets for its customers, with a focus on the entertainment sector. Here are some of the new markets.

Consumer Tech News (Oct 27-31): Nvidia Surpasses $5T Market Cap, Trump-Xi Meeting Concludes, Big Tech Report Earnings & More

Apple, Amazon, Microsoft, and Alphabet beat Q3 estimates with revenue and earnings growth. Trump and Xi conclude high-stakes meeting with trade, soybean, and resource agreements, potentially impacting U.S.-China economic relations and global markets.

Wall Street Elite Bet on Trump's New Dollar - Ad

BlackRock, Fidelity, and ARK Invest all just made the same bet. They backed a 21st-century upgrade to our financial system that experts predict will grow 8-15X in the next 3-5 years. This isn't Bitcoin or speculative crypto - it's a new form of the dollar that will change how you send money, pay bills, and invest for retirement.

Japanese game maker Nintendo reports zooming sales and profit on its hit Switch 2 machine

TOKYO (AP) — Japanese video-game maker Nintendo’s net profit jumped 85% in April-September from the year before, as its sales more than doubled following the launch of its hit Switch 2 console in June, the company said Tuesday.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service