Page 4 - Larry Gray News Today

When IRS Commissioner Danny Werfel met privately with senators recently, the chairman of the Senate Finance Committee asked for his assessment of a startling report: A whistleblower estimated that 95% of claims now being made by businesses for a COVID-era tax break were fraudulent. “He looked at his shoes and he basically said, ‘Yeah,’” recalled the lawmaker who posed that question, Sen. Ron Wyden, D-Ore. The answer explains why Congress is racing to wind down what ...

WASHINGTON — When IRS Commissioner Danny Werfel met privately with senators recently, the chairman of the Senate Finance Committee asked for his assessment of a startling report: A whistleblower estimated that 95% of claims now being made by businesses for a covid-era tax break were fraudulent. “He looked at his

Breaking News, Sports, Manitoba, Canada

Lawmakers across the political spectrum who rarely agree on little else agree it's time to close down the program.

What was expected to cost the federal government $55 billion has instead ballooned to nearly five times that amount as of July.

Congress is racing to wind down a tax break meant to encourage businesses to keep workers on the payroll during the COVID-19 pandemic.

A whistleblower has estimated that a staggering 95% of claims for a COVID-era tax break program for businesses are fraudulent. As a result, lawmakers are urgently working to wind down the program to minimize losses. The programs cost has ballooned to nearly five times the expected amount, prompting bipartisan agreement that it must be closed down. Lawmakers are proposing more rigorous oversight and penalties to mitigate fraud, aiming to use the savings to fund other business tax breaks and a mor...

The 17-year-old student, Alex Yu, of Mills High School who admitted to brandishing a loaded weapon on Aug. 21, was convicted yesterday in juvenile court.

Congress is racing to wind down a tax break meant to encourage businesses to keep workers on the payroll during the COVID-19 pandemic.

A whistleblower has estimated that a staggering 95% of claims for a COVID-era tax break program for businesses are fraudulent. As a result, lawmakers are urgently working to wind down the program to minimize losses. The programs cost has ballooned to nearly five times the expected amount, prompting bipartisan agreement that it must be closed down. Lawmakers are proposing more rigorous oversight and penalties to mitigate fraud, aiming to use the savings to fund other business tax breaks and a mor...