All articles tagged with #tax audits
A US District Judge voided the May settlement between Trump and federal agencies that would have shielded him from tax audits and funded a $1.8 billion 'anti-weaponisation' program; the judge ruled the suit was pursued for improper purposes and referred involved lawyers for ethics review, with the fund abandoned and potential IRS audits revived.
The U.S. Department of Justice issued a one-page directive, signed by acting Attorney General Todd Blanche, declaring that Donald Trump, his family, and their businesses are forever barred from prosecuting or pursuing any tax claims, including current or potential audits, as part of a settlement over a $10 billion IRS information-leak case; the ruling is linked to the creation of an 'Anti-Weaponization Fund' overseen by a five-member commission (four appointed by Blanche), a move that drew strong criticism from Democrats and ethics experts who question its constitutionality and impartiality.
The Justice Department expanded its settlement over the leaking of Trump’s tax returns to include a sweeping waiver that bars the IRS from examining Trump, related individuals, and affiliated entities for taxes filed before the settlement’s effective date, a move signed by Acting Attorney General Todd Blanche but not by the IRS or Trump’s lawyers; the nine-page agreement had established a nearly $1.8 billion fund for victims of alleged weaponization of law enforcement and did not resolve Trump’s tax disputes, prompting questions about signing authority and scope.
Shares of Foxconn, a major supplier of Apple's iPhones, dropped by as much as 3% after reports emerged that the company is under investigation for tax audits and land use probes in China. The Chinese state-backed Global Times reported that some of Foxconn's subsidiaries in China are being audited for taxes, while the country's natural resources department is conducting on-site investigations into the land use of Foxconn enterprises in Henan and Hubei provinces. The investigations come just months ahead of Taiwan's presidential and parliamentary elections. Foxconn stated that it would cooperate with the relevant units on the investigations.