After a pause for the pandemic, debt buyers are back in the courts, suing debtors by the thousands.
Girish Patel doubts his small, 20-year-old shop will survive the pandemic economy. Thirty stories above, aerospace company TransDigm has sustained eye-popping profits thanks to steep layoffs and raised over a billion with help from the U.S. government.
The antitrust probe comes after ProPublica detailed how the takeover could reduce competition in the tax prep business.
ProPublica found at least 15 large companies that received over half a billion dollars in PPP loans using the same technique: Getting multiple loans sent to smaller entities they own.
After resisting its release, the administration revealed information on companies that received more than $150,000 in PPP funds.
Every year, the IRS annual report is an opportunity to measure how effectively the U.S. government has sabotaged its own ability to enforce its tax laws. This year’s report signals historic lows for U.S. tax enforcement.
Wage garnishments ordered before the pandemic started have continued for many workers during the recession. Senators Elizabeth Warren and Sherrod Brown have demanded an end to the practice.
As the COVID-19 pandemic hit, Americans got protection from evictions, foreclosures and student debt. But debt collectors have continued to siphon off their share of paychecks from those who still have jobs.
Experts from across the political spectrum fear that the Federal Reserve’s new Main Street Lending program won’t reach enough businesses or save enough jobs.
The Small Business Administration, which is administering the lending program, has said it will disclose the names of companies that got loans — just not yet. News organizations are suing to stop the delay.
How has your company treated its workers during the crisis? As bailout money in the form of huge loan programs reaches to your company, what are you watching for or worried about?
The IRS has had trouble getting money to people quickly because millions of Americans pay for their tax preparation through a baroque system of middlemen.
Congress gave the IRS the job of sending out coronavirus rescue checks. But the underfunded agency is struggling, while for-profit companies like Intuit have started circling, hoping to convert Americans in need into paying customers.
Politicians have touted debt relief, but the various proposals are patchwork. Many homeowners and renters won’t get much help; those struggling with credit card, car and other loan payments will get none.
Will banks, landlords and other debt collectors work with people who’ve lost income because of the coronavirus crisis? Help us find out.
A decade ago, the government spent more than $1 trillion to bail out companies and stimulate the economy. What have we learned since then?
“Allowing a near-monopolist to eliminate a maverick competitor poses obvious risks of harm,” said one former DOJ lawyer of Intuit’s proposed Credit Karma acquisition. “It’s hard to imagine any reason why this should be allowed.”
Did you file with H&R Block, Jackson Hewitt, Liberty Tax or another preparer? Help us report on what Americans really paid for tax help.
Tax software companies made around $1 billion in revenue by charging people who were eligible to file for free.
The social media behemoth is about to face off with the tax agency in a rare trial to capture billions that the IRS thinks Facebook owes. But onerous budget cuts have hamstrung the agency’s ability to bring the case.