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Today, the Federal Trade Commission issued a final rule to promote competition by banning noncompetes nationwide, protecting the fundamen
Holy fuck, the Biden administration is banning noncompetes. 120 days from now, it will no longer be legal for companies to prevent you from getting a job elsewhere when you leave.
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The IRS said it would open examinations into 75 of the nation’s largest partnerships, which were identified with the help of artificial intelligence, by the end of the month. The partnerships all have more than $10 billion in assets and will receive audit notices in the coming weeks.
More audits are likely to come. In October, the I.R.S. will send 500 notifications, known as compliance alerts, to other large partnerships indicating that the agency has found discrepancies in their balance sheets. These partnerships could also face audits if they cannot explain the differences in their balances from the end of one year to the start of the next.
The focus on partnerships is part of a broader push by the I.R.S. to scrutinize wealthier taxpayers in 2024. Mr. Werfel said that the agency is dedicating dozens of revenue officers to pursue 1,600 millionaires who the I.R.S. believes owe at least $250,000 in unpaid taxes.
https://www.nytimes.com/2023/09/08/us/politics/irs-deploys-artificial-intelligence-to-target-rich-partnerships.html?smid=nytcore-ios-share&referringSource=articleShare
The tax agency is opening examinations into large hedge funds, private equity groups, real estate investors and law firms.
Based Biden
