Zhongzhi Enterprise Group: Chinese shadow bank files for bankruptcy
The troubled firm reportedly told investors in November its liabilities had outstripped its assets.
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More money is helping the IRS. Republicans still want to cut its budget.
Comment on this storyComment Add to your saved stories Save President Biden and Democrats in Congress turbocharged the Internal Revenue Service in 2022, handing the tax collector tens of billions of dollars to modernize and train a harder gaze on high-income earners and major corporations. Not even two years later, Republicans in Congress have succeeded…
IRS unveils ‘voluntary disclosure program’ for businesses duped by pandemic-era tax credit
IRS Commissioner Daniel Werfel testifies before the House Small Business Committee on July 17, 2013. James Lawler Duggan | Reuters The IRS has unveiled a “voluntary disclosure program” for businesses that claimed a pandemic-era tax credit in error and want to pay the money back. Worth thousands per employee, the employee retention tax credit, or…
Advice | Not rich? Take this quiz to see how to build your wealth.
Not many Americans know their net worth. That’s understandable, given our propensity to measure financial success by how much we earn. A recent report by The Washington Post found that the middle half of Americans have a net worth between $27,000 and $659,000. And roughly 1 in 12 U.S. households have a negative net worth,…
Could there be a gold rush for buried hydrogen?
Many see hydrogen as the green fuel of the future so underground deposits of the gas could be valuable.
Spotify Axes 17% Of Workforce In Third Round Of Layoffs This Year
The music streaming service hopes the cuts, which amount to about 1,500 people, will help it become profitable.
How the Biden administration is doing on its goal of getting more loans to minority small business owners
Maskot | Digitalvision | Getty Images The United States has experienced a small business boom in recent years, and people of color are a large part of that success, making progress on historical underrepresentation of Black and brown entrepreneurs in America. From 2010 to 2020, the minority population grew from 36.3% to 42.4%, but the…
