propublica.org Oct 25, 2021Justin Elliott
A Forge spokesperson said Thiel and his representatives had no role in the company’s decision to lobby on the IRA proposal. The GAO also noted that very large retirement accounts often held these assets. Several other retirement industry companies are also mobilizing to fight the proposal by backing . . .
keywords: retirement, ira, lobbying, respond, mega, faces, group, resistance, industry, accounts, thiel, tax, proposal, forge, rein, iras
propublica.org Sep 21, 2021Justin Elliott
Those accounts — Thiel’s alone was worth $5 billion in 2019 — have allowed some super-wealthy Americans to turn their Roth IRAs, tools meant to incentivize middle-class retirement saving, into supersized tax shelters. Given the stakes for a small group of wealthy and powerful Americans, it’s unclear . . .
keywords: ira, retirement, massive, taxes, propublica, income, blow, roth, bill, tax, proposal, house, billionaires, iras, superwealthy
propublica.org Aug 11, 2021
Billionaire business owners deployed lobbyists to make sure Trump’s 2017 tax bill was tailored to their benefit. But the tax break did more than just give a lucrative, and legal, perk to Johnson’s donors. In response to emailed questions, Johnson did not address whether he had discussed the expanded . . .
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propublica.org Jul 28, 2021Justin Elliott
The Number of People With IRAs Worth $5 Million or More Has Tripled, Congress Says After ProPublica revealed that some wealthy Americans hold Roth IRAs worth hundreds of millions — compared to $39,000 for the average account holder — Democrats requested data. It shows more than 28,000 people with IR . . .
keywords: americans, million, retirement, congress, irs, worth, tripled, data, number, iras, tax, roth, wyden
propublica.org Jul 16, 2021Justin Elliott
TurboTax-Maker Intuit Will Leave Free Tax Filing Partnership With IRS The company’s decision throws the future of the Free File program, which was created as an alternative to an IRS free tax filing system, into doubt. Series: The TurboTax Trap How the Tax Prep Industry Makes You PayProPublica is a . . .
keywords: turbotax, intuit, partnership, program, turbotaxmaker, irs, file, free, industry, prep, tax, filing, leave
propublica.org Jun 25, 2021Justin Elliott
DonateProPublica reported Thursday that the Roth IRA, a retirement vehicle originally intended to spur middle-class savings, was being hijacked by the ultrawealthy and used to create giant onshore tax shelters. Wyden had worried for years that Roth IRAs were being abused by the ultrawealthy. “If I h . . .
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propublica.org Mar 17, 2021Justin Elliott
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keywords: file, taxes, 2021, state, free, federal
propublica.org Nov 03, 2020Justin Elliott
Philadelphia officials are denying a Trump campaign operative’s allegation that Republican poll watchers are being excluded from voting sites around the city. Mike Roman, the Trump campaign’s national Election Day operations director, retweeted a video early Tuesday morning that appears to show a Re . . .
keywords: voting, republican, poll, trump, watchers, video, roman, respond, city, campaign, denies, banning, philadelphia, allegation, election
propublica.org Jun 09, 2020Justin Elliott
Series: The TurboTax Trap How the Tax Prep Industry Makes You PayProPublica is a nonprofit newsroom that investigates abuses of power. A Senate investigation has found that the IRS has conducted little oversight of its partnership with the for-profit tax prep industry to offer free tax filing, and c . . .
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propublica.org Apr 26, 2019Justin Elliott
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