BusinessPostCorner.com
No Result
View All Result
Wednesday, June 18, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Senate Dems probe IRS chief nominee Billy Long’s campaign donations

May 18, 2025
in Accounting
Reading Time: 3 mins read
A A
0
Senate Dems probe IRS chief nominee Billy Long’s campaign donations
ShareShareShareShareShare
Billy Long speaking at a Donald Trump campaign event

Al Drago/Bloomberg

The week before confirmation hearings for President Donald Trump’s nominee for commissioner of the Internal Revenue Service, former Missouri Congressman Billy Long, Democrats in the Senate are asking questions about the timing of campaign donations he received immediately after his nomination.

In a letter sent last Thursday to seven different companies — including an accounting firm, a tax advisory services firm, and a financial services provider — Democratic Senators Elizabeth Warren, D-Massachusetts, Ron Wyden, D-Oregon, and Sheldon Whitehouse, D-Rhode Island, questioned donations that the companies and some of their employees made to Long in the month and a half after his nomination in early December of 2024.

Between Dec. 4, 2024, and the end of January 2025, the letters said, Long’s unsuccessful 2022 campaign for Senate received $165,000 in donations — after nearly two years without receiving any — and his leadership PAC received an additional $45,000.

The donations allowed Long to repay himself the $130,000 balance of a $250,000 loan he had personally made to his campaign back in 2022.

(Read more: “DOGE downsizing, IRS commissioner switch complicate tax season.“)

The senators’ letters described the donations as “a highly unusual and almost immediate windfall,” and characterized many of the donors as being “involved in an allegedly fraudulent tax credit scheme.”

“The overlap between potential targets of IRS investigations and the list of recent donors heightens the potential for conflicts of interest and suggests that contributors to Mr. Long’s campaign may be seeking his help to undermine or avoid IRS scrutiny,” the letters said; adding, “This brazen attempt to curry favor with Mr. Long is not only unethical — it may also be illegal.”

The senators then warned, “There appears to be no legitimate rationale for these contributions to a long-defunct campaign other than to purchase Mr. Long’s goodwill should he be confirmed as the IRS commissioner,” before appending a list of approximately a dozen questions for the donors to answer.

The donations were originally discovered in early April by investigative news outlet The Lever, which the senators noted in their letters.

After Long left Congress in 2023, he worked for a tax consulting firm, including promoting the COVID-related Employee Retention Credit. In early January, Sen. Warren sent a letter to Long questioning his tax credentials and promotion of the ERC.

The IRS has run is now on its fifth acting or regular commissioner since President Trump announced his intention to nominate Long; a number of the commissioners resigned or were removed over policy differences with the administration and its Department of Government Efficiency.

Long’s confirmation hearing before the Senate Finance Committee is scheduled for this Tuesday, May 20.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Pro-EU centrist set to win Romanian presidency

Next Post

The US factory that lays bare the contradiction in Trump’s policy

Next Post
The US factory that lays bare the contradiction in Trump’s policy

The US factory that lays bare the contradiction in Trump's policy

Tax Fraud Blotter: Sick excuses

Tax Fraud Blotter: Sick excuses

June 12, 2025
Is worker loneliness HR’s next big wellness challenge?

Is worker loneliness HR’s next big wellness challenge?

June 16, 2025
Tipalti buys Statement to add treasury automation capacities

Tipalti buys Statement to add treasury automation capacities

June 17, 2025
How UK paternity leave compares to the rest of Europe

How UK paternity leave compares to the rest of Europe

June 15, 2025
Britain’s MI6 spy agency promotes ‘Q’ to be first female head 

Britain’s MI6 spy agency promotes ‘Q’ to be first female head 

June 15, 2025
‘It was sold as a dream but became a nightmare’

‘It was sold as a dream but became a nightmare’

June 16, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

OpenLedger and UC Berkeley Give Students Direct Ownership in Building Decentralized AI

OpenLedger and UC Berkeley Give Students Direct Ownership in Building Decentralized AI

June 18, 2025
SCOTUS limits Tax Court jurisdiction if an IRS tax levy disappears

SCOTUS limits Tax Court jurisdiction if an IRS tax levy disappears

June 18, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!