WSJ Editorial Board: The IRS wants to look at your bank account
Fox News
On your next trip to the ATM, imagine that Uncle Sam is looking over your shoulder.
Charles Rettig, commissioner of the Internal Revenue Service, wants banks to report annual cash flows for ordinary account holders. Treasury Secretary Janet Yellen is promoting the plan, and the House Ways and Means Committee is debating whether to include this mandate in the Democrats’ $3.5 trillion spending bill.
Ms. Yellen says the reporting will help to catch wealthy tax dodgers. In a recent letter to the committee she said the plan would reveal "opaque income streams that disproportionately accrue to the top." Treasury and congressional Democrats hope taxpayers will report income more accurately if they know the feds have their account information.
On Friday, in the aftermath of Trump’s presidential victory, Merchan postponed indefinitely next week’s scheduled sentencing and agreed to consider a defense motion to dismiss the case.
The U.S. Army has taken a major step forward in beefing up its short-range reconnaissance program by ordering nearly 12,000 UAVs from Teal Drone as battlefield realities favor electronic warfare.
President Biden is making a last-ditch effort to cancel more student debt before the end of his term, one of his final attempts to erase the loans after facing years of setbacks.
Two men have been convicted of charges related to human smuggling in connection with a family of Indian migrants who froze to death in 2022 trying to cross into the U.S. from Canada.
A Texas state lawmaker has proposed a bill to abolish the death penalty in the state, which comes amid a high-profile case currently unfolding.
Fox News host Laura Ingraham says Democrats don't believe they need to "make big changes to their approach" after their 2024 loss on "The Ingraham Angle."
Trump announced a slew of cabinet announcement on Friday as he begins to shape his Cabinet for his second term.
President-elect Trump announced on Friday that he is nominating Dr. Marty Makary, a Johns Hopkins School of Medicine professor, to head the Food and Drug Administration.
President-elect Trump nominated former NFL cornerback Scott Turner and Texas state representative as the secretary of the Department of Housing and Urban Development.
Fox News Channel is continuing its post-election surge as CNN and MSNBC's viewership are in free fall following President-elect Donald Trump's victory.
Joe Sanberg, the entrepreneur and anti-poverty advocate who spearheaded a failed measure to raise California's minimum wage, talked about the ballot defeat.