• Latest
  • Trending
  • All
  • Market Updates
  • Cryptocurrency
  • Blockchain
  • Investing
  • Commodities
  • Personal Finance
  • Technology
  • Business
  • Real Estate
  • Finance
Trump’s IRS Commissioner pick Billy Long grilled by Senate Democrats

Trump’s IRS Commissioner pick Billy Long grilled by Senate Democrats

May 21, 2025
GMX Exploiter Starts Returning $40M in Stolen Crypto After Bounty Deal

GMX Exploiter Starts Returning $40M in Stolen Crypto After Bounty Deal

July 11, 2025
How The New York Times is (still) getting gamed by the right

How The New York Times is (still) getting gamed by the right

July 11, 2025
This Inevitable Trend Soared a Quick 50%…This Morning

This Inevitable Trend Soared a Quick 50%…This Morning

July 11, 2025
More from ECB’s Schnabel: Another cut would require significant inflation deviation

More from ECB’s Schnabel: Another cut would require significant inflation deviation

July 11, 2025
DAL, KLG, PTC, AMD and more

DAL, KLG, PTC, AMD and more

July 11, 2025
Why copper tariffs are different

Why copper tariffs are different

July 11, 2025
FTAV Q&A: Steve Berkley

FTAV Q&A: Steve Berkley

July 11, 2025

Eurostoxx futures -0.3% in early European trading

July 11, 2025
Bitcoin Price Hits New ATH Above $113,700 Amid Trump Rate Cut Calls

Bitcoin Price Hits New ATH Above $113,700 Amid Trump Rate Cut Calls

July 11, 2025
Trump’s ‘big beautiful bill’ ends $7,500 EV tax credit

Trump’s ‘big beautiful bill’ ends $7,500 EV tax credit

July 11, 2025
Commodity firms poised for $300mn windfall from US copper tariff trade

Commodity firms poised for $300mn windfall from US copper tariff trade

July 11, 2025
UK landlords quit sector as number of homes to let falls, survey says

UK landlords quit sector as number of homes to let falls, survey says

July 11, 2025
Friday, July 11, 2025
No Result
View All Result
InvestorNewsToday.com
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech
InvestorNewsToday.com
No Result
View All Result
Home Personal Finance

Trump’s IRS Commissioner pick Billy Long grilled by Senate Democrats

by Investor News Today
May 21, 2025
in Personal Finance
0
Trump’s IRS Commissioner pick Billy Long grilled by Senate Democrats
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


UNITED STATES – MARCH 31: Rep. Billy Lengthy, R-Mo., is seen through the Home Power and Commerce Subcommittee on Communications and Expertise listening to titled Connecting America: Oversight of the FCC, in Rayburn Constructing on Thursday, March 31, 2022.

Tom Williams | Cq-roll Name, Inc. | Getty Photographs

Senate lawmakers pressed President Donald Trump‘s choose for IRS Commissioner, former Missouri Congressman Billy Long, about his opinions on presidential energy over the company, use of taxpayer knowledge and his ties to doubtful tax credit.

Lengthy, who labored as an auctioneer earlier than serving six phrases within the Home of Representatives, answered Senate Finance Committee queries throughout a affirmation listening to Tuesday.

One of many key themes from Democrats was Trump’s energy over the company, and Lengthy advised the committee, “the IRS is not going to, shouldn’t be politicized on my watch.”

Extra from Private Finance:
What Moody’s downgrade of U.S. credit rating means for your money
Long-term care costs can be a ‘huge problem,’ experts say. Here’s why
How student loan borrowers can avoid default as Trump ramps up collection efforts

Sen. Elizabeth Warren, D-Mass., who offered her inquiries to Lengthy upfront, requested whether or not Trump may legally finish Harvard University’s tax-exempt standing. If permitted, the transfer may have broad implications for the President’s energy over the company, she argued.

Nonetheless, Lengthy did not reply the query straight.

“I do not intend to let anyone direct me to start out [an] audit for political causes,” he stated.

Ties to doubtful tax credit

Sen. Ron Wyden, D-Ore., scrutinized Lengthy’s on-line promotion of the pandemic-era employee retention tax credit value 1000’s per eligible worker. The tax break sparked a cottage trade of scrupulous corporations pushing the tax break to small companies that did not qualify.

“I did not say everybody qualifies,” Lengthy stated. “I stated just about everybody qualifies.”

Senators additionally requested about Lengthy’s referral earnings from corporations pushing so-called “tribal tax credit,” which the IRS has told Democratic lawmakers do not exist.

“I didn’t have any notion by any means that these didn’t exist,” Lengthy advised the committee.

Senate Democrats additionally raised questions on donations individuals linked to these credit made to Lengthy’s dormant Senate campaign, after Trump introduced his nomination to go the IRS.

Direct File ‘one of many hottest matters’

Whereas Senate Democrats grilled Lengthy on his document, Republicans centered on questions on taxpayer service. A number of Republican lawmakers voiced support for Lengthy, together with the committee chairman Mike Crapo, R-Idaho. 

If confirmed by the Senate, Lengthy may imply a shift for the company, which beforehand launched into a multibillion-dollar revamp, together with upgrades to customer support, expertise and a free filing program, often called Direct File.

When requested about the way forward for Direct File, Lengthy stated he deliberate to promptly look at this system, describing it as “one of many hottest matters on the IRS.”

‘An unconventional choose’

Since former IRS Commissioner Danny Werfel’s resignation in January, there have been three different leaders for the company. If confirmed, Lengthy would function IRS Commissioner for the rest of the time period via Nov. 12, 2027. The date for the vote is not but confirmed.

Mark Everson, who served as IRS commissioner from 2003 to 2007, described Lengthy as “an unconventional choose,” in contrast with the expertise profiles of earlier IRS leaders. 

However Lengthy’s years in Congress will present “credibility up on the Hill with the individuals who matter, which shall be vital,” Everson, who’s at the moment vice chairman at Alliant, a administration consulting firm, previously told CNBC.

Lengthy could also be in a “higher place than others to argue for the suitable independence of the company,” he stated.



Source link

Tags: BillyCommissionerDemocratsGrilledIRSlongpickSenateTrumps
Share196Tweet123
Previous Post

SEC delays decision on Ether staking and XRP ETFs, as analysts expected

Next Post

Buy Bitcoin, Ditch The Banks Before It’s Too Late—Kiyosaki

Investor News Today

Investor News Today

Next Post
Buy Bitcoin, Ditch The Banks Before It’s Too Late—Kiyosaki

Buy Bitcoin, Ditch The Banks Before It’s Too Late—Kiyosaki

  • Trending
  • Comments
  • Latest
Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

February 5, 2025
Niels Troost has a staggering story to tell about how he got sanctioned

Niels Troost has a staggering story to tell about how he got sanctioned

December 14, 2024
Best High-Yield Savings Accounts & Rates for January 2025

Best High-Yield Savings Accounts & Rates for January 2025

January 3, 2025
Suleiman Levels limited V 3.00 Update and Offer – Analytics & Forecasts – 5 January 2025

Suleiman Levels limited V 3.00 Update and Offer – Analytics & Forecasts – 5 January 2025

January 5, 2025
Why America’s economy is soaring ahead of its rivals

Why America’s economy is soaring ahead of its rivals

0
Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

0
Nato chief Mark Rutte’s warning to Trump

Nato chief Mark Rutte’s warning to Trump

0
Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

0
GMX Exploiter Starts Returning $40M in Stolen Crypto After Bounty Deal

GMX Exploiter Starts Returning $40M in Stolen Crypto After Bounty Deal

July 11, 2025
How The New York Times is (still) getting gamed by the right

How The New York Times is (still) getting gamed by the right

July 11, 2025
This Inevitable Trend Soared a Quick 50%…This Morning

This Inevitable Trend Soared a Quick 50%…This Morning

July 11, 2025
More from ECB’s Schnabel: Another cut would require significant inflation deviation

More from ECB’s Schnabel: Another cut would require significant inflation deviation

July 11, 2025

Live Prices

© 2024 Investor News Today

No Result
View All Result
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech

© 2024 Investor News Today