Latest news with #WhiteRiver
Yahoo
20-05-2025
- Business
- Yahoo
Democratic senator says he has recordings of favors ‘promised' by Trump's IRS pick
Sen. Ron Wyden (Ore.), the top Democrat on the Senate Finance Committee, said Tuesday he has recordings of business associates of President Trump's pick to lead the IRS, former Rep. Billy Long (R-Mo.), saying they expect to get favors from him once he is in office. Wyden cited recordings of two instances of people saying they expect to receive favorable treatment from Long. 'Our staff investigators have on tape now tax promoters saying you met with them at the inauguration and promised [them] a favorable private letter ruling,' Wyden said Tuesday during Long's confirmation hearing in the Senate Finance Committee. Long has worked as a tax credit promoter, an industry that pushed tax credits to businesses as the government sent out $5 trillion in rescue stimulus during the pandemic. Wyden's revelation about the recordings came at the end of Long's confirmation hearing and Long was not given a chance to respond, though he defended his work as a tax promoter throughout the hearing, specifically with regard to the disputed 'tribal' tax credits, which Democrats contend do not exist. 'My only involvement in this matter … was to connect interested friends of mine … just friends, if they had any interest,' Long said. The first recording mentioned by Wyden concerns an alleged 'promise' made by the former lawmaker to tax promoters about a favorable ruling from the IRS. The other concerns 'favorable treatment' for a company called White River Energy that had Long on its payroll regarding a 'tribal tax credit' that is in dispute. 'We also have on tape the White River CFO, who gave you the thousands of dollars, that he expects favorable treatment of these fake tribal tax credits,' Wyden said. Long, who received $65,000 from White River, according to the Senate Finance Committee, said he 'never talked to anybody' at the company but instead worked 'through' a company called Capitol Edge Strategies. Long couldn't name the Native American tribe on behalf of which he facilitated the sale of the disputed tribe tax credit. 'I worked through Capitol Edge Strategies. I didn't work through – I never talked to anybody at White River. I don't even know anybody at White River, and I don't have any way to know who the tribe is even,' he said. While Democrats homed in Long's potential transgressions along with how he would respond to requests from the president, Republicans said they appreciated Long's work in the private sector, saying it makes him a good advocate for small businesses. 'What he will do is bring a fresh and much needed perspective to the IRS,' Sen. Marsha Blackburn (R-Tenn.) said. 'Before entering public service, he was a small business owner and professional auctioneer – careers that grounded him in the real world challenges that everyday small business owners … face.' Democrats on the Senate Finance Committee released a detailed statement on Tuesday of the relationship between White River Energy and Long. In their account, White River sold phony tax credits to investors and then reassured them that they'd have friends in the IRS who'd be able to 'take the heat off.' Immediately after their credits were outed as fake, the company started donating to Long's inactive Senate campaign, Finance Committee Democrats said. 'Shortly thereafter, in mid-January, the folks down at White River decided it was time to whip out their checkbooks and start donating to Congressman Long's long-dormant Senate campaign. It still had outstanding debt dating back two and a half years. More than $165,000 poured into the campaign coffers, the vast majority of it from tribal tax credit promoters, including people at White River,' they wrote. The White House did not immediately respond to a request for comment . White River Energy did not immediately respond to questions about any previous interactions with Long or why they allegedly paid him $65,000. During Long's confirmation hearing, Democrats focused on Long's work as a tax credit promoter. 'You have a blatant conflict of interest here, having received payment for marketing [tax credits],' Sen. Tina Smith (D-Minn.) said during the hearing. The IRS has seen a string of different commissioners since President Trump took office. Usually, IRS commissioners are permitted to serve out their terms as nonpartisan civil servants but former IRS commissioner Danny Werfel resigned just before Trump's term started after he promised to fire him. Since Werfel, the IRS has been led by career agents Doulas O'Donnell, Melanie Krause and Gary Shapley, all of whom left amid controversies, including a power struggle between Treasury Secretary Scott Bessent and presidential adviser Elon Musk and the outside access of a government cost-cutting panel to sensitive taxpayer data. The IRS has pulled a 180-degree turn since the Biden administration, which authorized an $80 billion overhaul and major hiring initiative for the national tax collection office, which was clawed back by Republicans. The Trump administration has undertaken large-scale layoffs at the agency, specifically targeting new tax compliance hires. One report suggested the agency could lose as much as 40 percent of its workforce due to layoffs, hiring pauses, and regular retirement in the coming years. 'The IRS is at a crossroads, and we need a leader who doesn't just talk about modernization but who can get the job done,' Blackburn said during the hearing. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
20-05-2025
- Business
- Yahoo
Missouri's Billy Long grilled over donations, tax credits in Senate confirmation hearing
Billy Long speaks during a press conference before filing for election during the Missouri Senate primary on Feb. 22, 2022, in Jefferson City (Madeline Carter/Missouri Independent). Former Missouri Congressman Billy Long denied any wrongdoing regarding his ties to companies involved with controversial tax credit schemes during his confirmation hearing Tuesday on his nomination to lead the Internal Revenue Service. Long, who worked as an auctioneer before serving six terms representing a Southwest Missouri congressional district, also denied seeking donations from anyone associated with those companies that he used to pay off a personal loan he gave to his unsuccessful 2022 campaign for U.S. Senate. 'You know as well as I do that anytime you're dealing with the (Federal Elections Commission), you have to follow FEC guidelines,' Long told members of the U.S. Senate Finance Committee on Tuesday. 'And that's exactly what I did all the way through.' Democrats on the committee were not convinced that Long didn't ask for the money. 'You expect us to believe that the money just fell out of the sky and it showed up in your campaign treasury?' said U.S. Sen. Ron Wyden, a Democrat from Oregon. In December, Trump nominated Long to lead the IRS. At the time, Long's campaign committee had $130,000 in debt — money that Long had loaned the campaign himself. By early January, his Senate campaign committee raised $137,000, with much of the money coming from executives at companies that have been accused of selling fraudulent tax credits. Billy Long's bid to lead IRS under scrutiny over donations that paid off personal debt In addition to the campaign donations, Wyden hammered Long for allegedly raking in 'referral fees, steering clients to firms that sold fake tax shelters and pushing small businesses to unknowingly commit tax fraud.' A financial disclosure Long submitted as part of his confirmation process shows him receiving at least $5,000 in compensation from White River, an Arkansas-based oil and gas company that sold a tax credit that the IRS says doesn't actually exist. White River said in a statement that Long made an 'insignificant amount of referrals of these credits to third parties' for the company, and that no federal agency has ever told it the credits are invalid. Long on Tuesday denied he'd ever met or interacted with anyone at White River and claimed he had only referred the credits to a few friends. The Missouri Republican also faced tough questions from U.S. Sen. Elizabeth Warren, a Massachusetts Democrat, over whether President Donald Trump is allowed to use the IRS to strip organizations of their nonprofit status. Warren pointed to a portion of federal law that prohibits any member of the executive branch to request the IRS to conduct or terminate an audit on a taxpayer. 'In the first place, he wouldn't do that,' Long said. 'That's not my question, Mr. Long,' Warren responded. A few seconds of back and forth later, Long said he was 'going to follow the law,' but that 'I'd have to go to the lawyers at the IRS to tell me.' Warren wasn't impressed. 'If you think follow the law is you get to make it up on the spot,' she said, 'then you don't get to be the IRS commissioner.' U.S. Sen. Raphael Warnock, a Georgia Democrat, continued the line of questioning later, pressing Long over whether he had previously said he would ignore an order from Trump to audit a taxpayer. 'I think I told you that he wouldn't do that in the first place,' Long responded, 'but if he did, I'd do exactly what you said. So, yes.' In his opening statement, Long vowed to make long-needed changes at the agency if confirmed to be the next IRS commissioner. And if he isn't ultimately confirmed, he'll gladly head back to Missouri. 'I have the opportunity to make real transformational change to an agency that needs it more than any other federal agency,' he said. 'Or I can go back home to southwest Missouri where the fish are biting and as they say, they ain't going to catch themselves.'
The Hill
20-05-2025
- Business
- The Hill
Democratic senator says he has recordings of favors ‘promised' by Trump's IRS pick
Sen. Ron Wyden (Ore.), the top Democrat on the Senate Finance Committee, said Tuesday he has recordings of business associates of President Trump's pick to lead the IRS, former Rep. Billy Long (R-Mo.), saying they expect to get favors from him once he is in office. Wyden cited recordings of two instances of people saying they expect to receive favorable treatment from Long. 'Our staff investigators have on tape now tax promoters saying you met with them at the inauguration and promised [them] a favorable private letter ruling,' Wyden said Tuesday during Long's confirmation hearing in the Senate Finance Committee. Long has worked as a tax credit promoter, an industry that pushed tax credits to businesses as the government sent out $5 trillion in rescue stimulus during the pandemic. Wyden's revelation about the recordings came at the end of Long's confirmation hearing and Long was not given a chance to respond, though he defended his work as a tax promoter throughout the hearing, specifically with regard to the disputed 'tribal' trax credits. 'My only involvement in this matter … was to connect interested friends of mine … just friends, if they had any interest,' Long said. The first recording mentioned by Wyden concerns an alleged 'promise' made by the former lawmaker to tax promoters about a favorable ruling from the IRS. The other concerns 'favorable treatment' for a company called White River Energy that had Long on its payroll regarding a 'tribal tax credit' that is in dispute. 'We also have on tape the White River CFO, who gave you the thousands of dollars, that he expects favorable treatment of these fake tribal tax credits,' Wyden said. Long, who received $65,000 from White River, according to the Senate Finance Committee, said he 'never talked to anybody' at the company but instead worked 'through' a company called Capitol Edge Strategies. Long couldn't name the Native American tribe on behalf of which he facilitated the sale of the disputed tribe tax credit. 'I worked through Capitol Edge Strategies. I didn't work through – I never talked to anybody at White River. I don't even know anybody at White River, and I don't have any way to know who the tribe is even,' he said. While Democrats homed in Long's potential transgressions along with how he would respond to requests from the president, Republicans said they appreciated Long's work in the private sector, saying it makes him a good advocate for small businesses. 'What he will do is bring a fresh and much needed perspective to the IRS,' Sen. Marsha Blackburn (R-Tenn.) said. 'Before entering public service, he was a small business owner and professional auctioneer – careers that grounded him in the real world challenges that everyday small business owners … face.' Democrats on the Senate Finance Committee released a detailed statement on Tuesday of the relationship between White River Energy and Long. In their account, White River sold phony tax credits to investors and then reassured them that they'd have friends in the IRS who'd be able to 'take the heat off.' Immediately after their credits were outed as fake, the company started donating to Long's inactive Senate campaign, Finance Committee Democrats said. 'Shortly thereafter, in mid-January, the folks down at White River decided it was time to whip out their checkbooks and start donating to Congressman Long's long-dormant Senate campaign. It still had outstanding debt dating back two and a half years. More than $165,000 poured into the campaign coffers, the vast majority of it from tribal tax credit promoters, including people at White River,' they wrote. The White House did not immediately respond to a request for comment . White River Energy did not immediately respond to questions about any previous interactions with Long or why they allegedly paid him $65,000. During Long's confirmation hearing, Democrats focused on Long's work as a tax credit promoter. 'You have a blatant conflict of interest here, having received payment for marketing [tax credits],' Sen. Tina Smith (D-Minn.) said during the hearing. The IRS has seen a string of different commissioners since President Trump took office. Usually, IRS commissioners are permitted to serve out their terms as nonpartisan civil servants but former IRS commissioner Danny Werfel resigned just before Trump's term started after he promised to fire him. Since Werfel, the IRS has been led by career agents Doulas O'Donnell, Melanie Krause and Gary Shapley, all of whom left amid controversies, including a power struggle between Treasury Secretary Scott Bessent and presidential adviser Elon Musk and the outside access of a government cost-cutting panel to sensitive taxpayer data. The IRS has pulled a 180-degree turn since the Biden administration, which authorized an $80 billion overhaul and major hiring initiative for the national tax collection office, which was clawed back by Republicans. The Trump administration has undertaken large-scale layoffs at the agency, specifically targeting new tax compliance hires. One report suggested the agency could lose as much as 40 percent of its workforce due to layoffs, hiring pauses, and regular retirement in the coming years. 'The IRS is at a crossroads, and we need a leader who doesn't just talk about modernization but who can get the job done,' Blackburn said during the hearing.
Boston Globe
20-05-2025
- Business
- Boston Globe
Trump's pick to lead IRS promoted a nonexistent tax credit
One of those entities was White River Energy Corp., an Arkansas-based oil and gas company. The firm has said it joined with an unnamed tribal entity to sell 'tribal tax credits' to people who wanted to claim the supposed credits and reduce their tax bill. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up In a statement last month, the company said Long 'made an insignificant amount of referrals of these credits to third parties.' White River also defended the credit and said the federal government had never told the company to stop using it. Bloomberg Tax first revealed White River's business practices. Advertisement A financial disclosure Long submitted as part of his confirmation process shows him receiving at least $5,000 in compensation from White River, on top of tens of thousands of dollars in payments for work with other companies that encouraged clients to file for large refunds, including by using the supposed tribal credit. Advertisement The IRS, responding to a request from Senate Democrats, told lawmakers there was no such credit. 'We can confirm that these tax credits do not exist,' the agency wrote in March. 'Taxpayers who claim credits that don't exist are subject to penalties and possible examination. Furthermore, promoters of these credits may be subject to civil or criminal penalties.' The Treasury Department declined to comment on whether the credit exists. Long's time pitching tax breaks puts him on the other side of IRS efforts to clamp down on what it warned could be abusive practices. That history has inflamed concerns that tax enforcement could decline steeply if he takes the helm. The Trump administration has already cut much of the agency's staff that conducts audits. If confirmed, Long would become the first official head of the IRS under the Trump administration but the sixth person to lead the agency since the beginning of the year. That remarkable string of turmoil comes as Trump has sought to enlist the tax collection agency in exacting political retribution. The president, angry that Harvard University has resisted his demands for overhauling its campus practices, has called for the IRS to strip Harvard of its tax-exempt status. He has also floated the possibility of the agency taking on other nonprofit groups that Trump dislikes. On social media, Long has reposted content criticizing Harvard, as well as George Soros' nonprofit and the fundraising platform Act Blue. Long did not respond to requests for comment. A Government Boondoggle Long did not serve on the tax-writing committee during his congressional career, though he did repeatedly sponsor legislation that called for the abolition of the IRS. Long describes himself on social media as a 'Certified Tax and Business Advisor,' a credential he received after attending a three-day course offered by Excel Empire, another tax consulting company, a spokesperson for the company told the Springfield News-Leader. Advertisement His career in tax focused on a pandemic-era tax break, known as the employee-retention tax credit. Created in 2020 to support businesses that kept employees on the payroll, the credit soon became a magnet for fraud, costing the government hundreds of billions more than initially expected. The IRS, overrun with what it worried were ineligible claims, froze the program in 2023. Long and the companies he worked with helped small businesses and nonprofits apply for the tax credit in exchange for a fee. In some instances, the clients and their accountants questioned whether they were actually eligible for the credit. In a podcast interview in 2023, Long said certified accountants often doubted his ability to generate large tax refunds. 'Instantly, the reflex reaction is to go to bashing and, 'Oh, that's a joke. That's a fake deal. That's not true. You're going to have to pay all that money back. You'll get audited,'' Long, sporting a hat bearing the initials of the tax credit, said of accountants at the time. 'They come up with any excuse they can.' Long worked with a Wisconsin-based company, Lifetime Advisors, which completed applications for the employee retention tax credit. A contract viewed by the Times showed Lifetime Advisors taking 20% of the value of the tax refund, a commission structure that the IRS has repeatedly warned against. One client of Long's told the Times last year that it had backed out of claiming the credit after realizing that it might not actually be eligible. Advertisement Lifetime Advisors, whose group of founders included two men previously sanctioned by the Financial Industry Regulatory Authority, also promoted the so-called tribal tax credit to clients, according to former employees. Some of its accountants quit the company over concerns of how the firm prepared taxes, the Times reported last year. As he has awaited his Senate hearing, Long has worked at the Office of Personnel Management, according to a spokesperson for the agency. He was at one point joined at the agency by Mark Czruchy, an owner and the general counsel at Lifetime Advisors. Czruchy no longer works at the Office of Personnel Management, the spokesperson said. Long's financial disclosure form reported earnings of nearly $250,000 from promoting the retention credit in 2024 and the first couple of months of 2025. That figure does not include money earned before the IRS tried to slow the flood of claims in September 2023. Industry Support Senate Democrats, as well as some tax professionals, have raised concerns that Long could use his position to protect and advance companies that promoted the employee retention tax credit and the so-called tribal tax credit. Rather than distance himself from the groups since his nomination, Long has continued to receive their support. In January, a few weeks after Trump nominated Long to lead the IRS, Long's dormant 2022 campaign for a Senate seat representing Missouri received a rush of more than $135,000 in donations, many from people affiliated with White River Energy Corp., Lifetime Advisors and other companies that promote tax credits. Long then used those donations to pay himself back for a loan he had made to the campaign, campaign finance records show. Advertisement Late last year, White River Energy Corp. held a call with investors anxious about whether the so-called tribal tax credit existed, according to selections of a transcript of the call released by Senate Democrats. On the call, Jay Puchir, the company's chief financial officer, said he was in close touch with incoming Trump officials and would work to get the credits approved under the new administration, although no law creates the tax credits. White Energy River Corp. did not respond to a request for comment. This article originally appeared in The New York Times.
News24
16-05-2025
- News24
One person killed, another wounded in attempted cash-in-transit heist in Mpumalanga
Two suspected cash-in-transit robbers have been shot - one of them dead - during an attempted robbery. Police say they were part of a group of gunmen who targeted a cash van. The rest of the gunmen fled. Guards shot a suspected cash-in-transit robber dead and wounded another during an attempted heist near White River, Mpumalanga on Thursday. According to police spokesperson. Brigadier Donald Mdhluli, preliminary reports indicate that an unidentified number of gunmen attacked cash-in-transit guards. A shootout ensued. One of the gunmen was shot and succumbed to his injuries at the scene. Another was wounded and is receiving medical attention under police guard, according to Mdhluli. 'Two rifles were recovered at the scene, while the Ford Ranger reportedly used by the suspects was later found abandoned in Swalala, near Masoyi. It is important to note that, according to our initial investigations, no money was stolen during this attempted robbery,' said Mdhluli. READ | 'The rest of their body couldn't be found': Thokoza residents recall failed CIT heist The person who was wounded is expected to appear in court soon. 'We urge anyone with further information regarding the whereabouts of the outstanding suspects or any information relating to this incident to contact the SAPS or report anonymously through Crime Stop at 08600 10111, or send information via the My SPAS app,' Mdhluli added. Acting provincial police commissioner, Major General Zeph Mkhwanazi, said law enforcement agencies were working collaboratively to combat crime, and added that the strategies put in place were beginning to yield positive results. 'The swift response and professionalism demonstrated by our security partners during this incident are commendable. Our commitment to ensuring the safety of the community remains unwavering, and we will continue to work tirelessly to bring criminals to justice,' said Mkhwanazi. According to annual crime statistics, during the 2023/24 year, police recorded 211 cash-in-transit heists – a decrease from the 238 recorded in the previous year. Gauteng had the highest number of incidents (61), followed by the Eastern Cape (50). Mpumalanga recorded 15 cases.
