Workers who received tips or overtime will be able to deduct this compensation when filing their 2025 income taxes. The Internal Revenue Service (IRS) has released guidance on its “no…
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Federal Charges Filed in Alleged $90M Employment Tax Scheme
Prosecutors say an Orange County staffing network withheld payroll taxes and used the funds for personal gain. Federal authorities have charged the owner of a Southern California staffing…
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U.S. Sanctions Target North Korean Cyber Networks Funding Weapons Programs
The Treasury Department designates individuals, banks, and companies accused of laundering money for North Korea’s weapons and cyber operations. The Department of the Treasury’s Office of Foreign Assets…
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Treasury Department Launches Audit of Federal Contracting Practices
The review focuses on the potential misuse of small-business contracting programs. The Department of the Treasury recently announced a comprehensive audit of preference-based federal contracts totaling about $9…
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Bill to Withhold Legislator Pay During Shutdown Introduced in Congress
Representative Steil and Senator Kennedy seek to stop the income of House and Senate members if the government isn’t funded. Senator John Kennedy of Louisiana and Congressman Bryan…
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Treasury Department Sanctions International Human-Smuggling Network
OFAC targets the Bhardwaj Organization and associated companies linked to migrant smuggling and financial crimes The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has…
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Treasury Department Announces Exchange Agreements with Thailand and Malaysia
They jointly confirm the continued “close consultations on macroeconomic and foreign exchange matters.” After Treasury Secretary Scott Bessent’s recent trip to Asia, the U.S. Department of the Treasury…
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U.S. Treasury Sanctions Russian Oil Companies
The administration responds to President Putin’s lack of good faith in negotiating for peace in Ukraine. Department of the Treasury’s Office of Foreign Assets Control imposed sanctions on…
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U.S. and U.K. Target Southeast Asia Cybercrime Networks
The Treasury Department reports that U.S. citizens have lost more than $16.6 billion in online investment scams in recent years. The U.S. Department of the Treasury’s Office of…
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Treasury Department Sanctions 50 More Iranian Entities
The fourth round of new sanctions seeks to pressure the oil and gas network. The Treasury Department’s Office of Foreign Assets Control (OFAC) recently announced sanctions on 50…
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