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Why FBARs Can Leave You FUBAR
Manage episode 347399429 series 3281815
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Ugh, are we talking about Elon AGAIN? Well, yeah, but he's running so spectacularly wild, it reminds us of the joke about a horse wreaking havoc in a hospital. There's no protocol, so I guess we're all just watching. Blue checks backfired again with the fake Eli Lilly account Tweeting "Insulin is free," shining a big light on two things: That the pay-to-be-verified-on-Twitter plan is trash and, most importantly, that price gouging insulin to the tune of 1,200 percent is ethically barren. Next on deck is a big nasty: The Wall Street Journal reports that a U.S. taxpayer is facing a fine of $2.72 million for failing to submit a Report of Foreign Bank and Financial Accounts--also known as FBAR. The stinger? The taxpayer in question didn't even OWE any taxes on those assets; this is literally just a penalty. Good luck, fella. Meanwhile, pay transparency laws are going into effect in NYC to help narrow the income gap across gender and ethnic lines. All together now: Equal work, equal pay! A solid win for decreasing income disparity. We also cover a crypto update, echoes of Enron at FTXA, and Meta/Facebook is about to lay off 10,000 employees.
Links
A Host of Tech Companies Announce Hiring Freezes and Job Cuts
What Amazon, Google and other top companies are paying in NYC
The IRS and the Eighth Amendment
Exclusive: At least $1 billion of client funds missing at FTXA
Facebook Parent Meta Is Preparing to Notify Employees of Large-Scale Layoffs This Week
What Amazon, Google and other top companies are paying in NYC
4 million NYC workers will now see how much jobs pay before they apply—here's what to know
Michael Lewis Already Selling Movie Rights for Book on FTX's Meltdown
Fake Eli Lilly Twitter Account Claims Insulin Is Free, Stock Falls 4.37%
Crypto.com Withdrawals Rise After CEO Admits Transaction Problem
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