Senator Robert Menendez must be running out of options. In court papers filed late Monday, federal prosecutors alleged that both the New Jersey lawmaker and his wife, Nadine Menendez, told a “false cover story” about the origin of gold bars that prosecutors allege were the result of bribes from foreign agents.Per Nadine’s alibi to a jeweler, the couple obtained the gold bars from “her deceased mother.” A Menendez staffer reported that the senator himself also tried to claim that “the gold had co
Inheritance of foreign assets under a will is not taxable whereas the sale of such assets by the legal heir would attract capital gains tax in the hands of the legal heir.
Senator Daines Questions IRS Commissioner Rettig on Montana Case
At a hearing before the U.S. Senate Finance Committee in Washington D.C. on Tuesday, Montana Senator Steve Daines took IRS Commissioner Charles Rettig to task over an issue regarding a constituent from Billings who was attempting to deal with the estate of his deceased mother, but needed the cooperation of the IRS.
“A Montanan from Billings brought an issue to my attention that I'd like to briefly discuss,” said Daines. “This individual lost his mother in January of 2020, and only then found out that she had not filed her taxes for fiscal years 2017, 2018 and 2019 due to the fact she was ill. He completed and mailed the returns to the IRS in April of 2020, so about a year ago.”