Elon Musk’s Handpicked IRS Chief Lasts Just 72 Hours: The IRS will soon be on its fourth acting executive—just three months into MAGA 2.0.
thedailybeast.com/elon-musks-handpicked-irs-chief-gary-shapley-lasts-just-72-hours/
Elon Musk’s Handpicked IRS Chief Lasts Just 72 Hours
Key Facts: IRS Chief Installed by Musk Ousted After 72 Hours
5h · Reading time: ~30 sec.
Summary created with AI assistance · Source: thedailybeast.com
  • Gary Shapley was removed after just 72 hours as the acting IRS chief.

  • Treasury Secretary Scott Bessent complained about Shapley’s appointment, claiming it was made without his consent.

  • Shapley, known for his testimony regarding Hunter Biden's finances, will remain at the IRS in a senior criminal investigation role.

  • He is the third acting IRS executive during Trump's presidency, following Melanie Krause and Douglas O'Donnell.
White House will start interviewing candidates to succeed Fed Chair Jerome Powell this fall
nypost.com/2025/04/14/business/scott-bessent-says-white-house-will-start-interviewing-fed-chair-candidates-this-fall/
White House will start interviewing candidates to succeed Fed Chair Jerome ...
Key Facts: Trump Considers Dismissing Fed Chair Powell
1h · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com
  • White House economic adviser Kevin Hassett confirmed that Trump is exploring the possibility of firing Jerome Powell, the Federal Reserve Chair.

  • Tensions have escalated as Trump accuses Powell of hindering the economy by maintaining high interest rates.
  • The Fed really owes it to the American people to get interest rates down. That's the only thing he's good for.— Donald Trump comments on Jerome Powell and the Fed's interest rate policy.
  • Powell stated he cannot be removed and intends to serve until his term ends in May 2026.

  • Economists and investors are concerned about the implications for the Fed's credibility and global markets if Trump attempts to dismiss Powell.
Feds hit Harvard with new demands, from international student records to funding cuts and tax threats
wbur.org/news/2025/04/17/harvard-trump-irs-cambridge-international-students
Feds hit Harvard with new demands, from international student records to ...
Key Facts: Harvard University Faces Threats from Trump Administration
Apr 17 · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com
  • The Trump administration threatens to revoke Harvard's ability to enroll foreign students unless it complies with demands for specific visa holder information.

  • Two DHS grants totaling over $2.7 million have been canceled as Harvard refuses to submit the requested data.
  • With a $53.2 billion endowment, Harvard can fund its own chaos - DHS won't.— Kristi Noem, Secretary of the Department of Homeland Security, in a statement regarding the termination of grants to Harvard.
  • Claims of an 'anti-American, pro-Hamas ideology' at Harvard have emerged, while the university defends its independence and right to free speech.

  • Human rights advocates express concerns about academic freedom and potential discrimination amid the Israel-Gaza conflict.
IRS Direct File Is Reportedly Being Eliminated After This Filing Season: Reports indicate that the Trump administration is planning to eliminate the IRS Direct ...
forbes.com/sites/kellyphillipserb/2025/04/16/trump-administration-will-reportedly-nix-irs-direct-file-eliminating-the-free-tax-filing-option/
IRS Direct File Is Reportedly Being Eliminated After This Filing Season
Key Facts: Trump Administration Moves to End IRS Free Filing Program
Apr 16 · Reading time: ~45 sec.
Summary created with AI assistance · Source: apnews.com
  • The Trump administration plans to eliminate the IRS Direct File program, which allows free electronic tax filing.

  • Users praised the program, developed during Biden's presidency, for its simplicity, but it faced opposition from Republicans and tax preparation companies.
  • "Trump and Musk want to take that away."— Senator Elizabeth Warren, a proponent of building out Direct File, stated this in response to the elimination of the program.
  • Development of the program was halted when IRS staff were instructed to cease work on it.

  • Critics claim this decision disregards taxpayers’ needs and may lead to a return to costly tax preparation services.
IRS Could Revoke Harvard’s Tax-Exempt Status over Refusal to Bend to Trump: The IRS is reportedly considering revoking Harvard’s tax-exempt status in retaliation ...
democracynow.org/2025/4/17/headlines/irs_could_revoke_harvards_tax_exempt_status_over_refusal_to_bend_to_trump
IRS Could Revoke Harvard’s Tax-Exempt Status over Refusal to Bend to Trump
Key Facts: Harvard's Tax-Exempt Status Under Scrutiny
Apr 17 · Reading time: ~45 sec.
Summary created with AI assistance · Source: nytimes.com
  • The IRS is considering revoking Harvard's tax exemption, marking a significant escalation in the Trump administration's efforts to cut federal aid to the university.

  • President Trump publicly demanded that Harvard pay taxes, while IRS officials indicated that scrutiny of the university had begun prior to his call.
  • "Such an unprecedented action would endanger our ability to carry out our educational mission."— Harvard stated that there is no legal basis for rescinding its tax status.
  • Harvard rejected the claims and warned that revoking its tax status would harm its educational mission and reduce financial aid and research funding.

  • The pressure on Harvard is part of a broader campaign by the Trump administration to challenge the liberal bias at elite universities, threatening billions in federal funding.
A presidential effort to revoke Harvard University's tax-exempt status could run up against a number of challenges, including violating federal law.
IRS marks Tax Day amid layoffs, cutbacks: The Internal Revenue Service commemorated the 70th anniversary of the April 15 tax filing deadline.
accountingtoday.com/news/irs-marks-tax-day-amid-worries-about-layoffs-and-cutbacks
IRS marks Tax Day amid layoffs, cutbacks
Key Facts: IRS in Turmoil Amid DOGE Data Controversy
Apr 15 · Reading time: ~45 sec.
Summary created with AI assistance · Source: cnn.com
  • IRS career officials struggled to protect sensitive taxpayer data from demands by Trump officials and DOGE staff for access to assist immigration agencies.

  • The agency faced internal upheaval, leading to the demotion of senior legal advisors and a mass exodus of experienced personnel.
  • It’s hard to think of anything positive that will come from the amount of uncertainty and turbulence at the IRS right now.— Former IRS commissioner Danny Werfel on the uncertainties and turbulence at the IRS.
  • A recently signed data-sharing agreement with ICE may enable the use of sensitive taxpayer information for tracking immigrants, undermining confidence in the IRS.

  • Experts warn of potential revenue losses as many undocumented immigrants hesitate to file taxes out of fear of deportation.
Trump will reportedly end the IRS Direct File program that allowed taxpayers to file taxes for free. This comes after Intuit, the maker of TurboTax ...
x.com/RBReich/status/1912997272767414753
Trump will reportedly end the IRS Direct File program that allowed ...
Trump administration takes aim at Harvard’s international students and tax-exempt status
thehill.com/homenews/ap/ap-business/ap-trump-administration-takes-aim-at-harvards-international-students-and-tax-exempt-status-2/
Trump administration takes aim at Harvard’s international students and ...
Key Facts: Harvard Resists Trump: A Turning Point in Education
Apr 17 · Reading time: ~45 sec.
Summary created with AI assistance · Source: nytimes.com
  • Harvard University decided to reject the Trump administration's demands despite a looming freeze of over $2 billion in federal funding.

  • University leaders viewed the demands as a serious threat to institutional independence and chose to fight for their principles.
  • "The university will not surrender its independence or relinquish its constitutional rights."— Dr. Alan M. Garber, President of Harvard, in an open letter rebuffing the Trump administration's demands.
  • The Trump administration responded swiftly with the funding freeze, placing Harvard in one of the gravest confrontations in its history.

  • Harvard's decision is regarded as a pivotal moment in the confrontation between higher education institutions and the government, prompting significant reactions across academia.
Trump official asked IRS to reexamine audit of MyPillow’s Mike Lindell: A Trump administration appointee asked the IRS in March to review an audit of MyPillow ...
thehill.com/homenews/administration/5254664-trump-official-asked-irs-to-re-examine-audit-of-mypillows-mike-lindell/
Trump official asked IRS to reexamine audit of MyPillow’s Mike Lindell
Key Facts: Mike Lindell Reveals Financial Struggles in Court Hearing
Apr 17 · Reading time: ~45 sec.
Summary created with AI assistance · Source: mediaite.com
  • Mike Lindell, CEO of MyPillow, detailed his financial troubles and inability to pay the sanctions imposed against him.

  • He was ordered to pay $56,369 to Smartmatic, which sued him for defamation.
  • I'm in ruins.— Mike Lindell, during a virtual hearing before U.S. District Judge Carl Nichols, regarding his financial situation related to the Smartmatic lawsuit.
  • Lindell described a significant financial decline, including laying off hundreds of employees and losing several MyPillow warehouses.

  • A judge asked Lindell to provide proof of his bankruptcy by Friday, questioning the verifiability of his claims.
Head of I.R.S. Being Ousted Amid Treasury’s Power Struggle With Elon Musk: Treasury Secretary Scott Bessent complained to President Trump that the acting ...
nytimes.com/2025/04/18/us/politics/irs-scott-bessent-elon-musk.html
Head of I.R.S. Being Ousted Amid Treasury’s Power Struggle With Elon Musk
Trump is very wrong about how much the US is collecting from tariffs : Trump's claim of $2 billion daily tariff revenue is contradicted by US Customs and ...
businessinsider.com/trump-says-us-collecting-more-tariff-revenue-than-data-shows-2025-4
Trump is very wrong about how much the US is collecting from tariffs
Estimates of the burden of China tariffs on the average American household is around $4,000, says former US Treasury Secretary Janet Yellen ... Show more

South Africa’s New Envoy Flies Into a Trump Storm
Summers: ‘Any self-respecting Treasury secretary would resign’ over Trump Harvard IRS directive
thehill.com/homenews/administration/5254015-larry-summers-scott-bessent-resign-harvard-irs/
Summers: ‘Any self-respecting Treasury secretary would resign’ over Trump ...
Trump's claim of $2 billion daily tariff revenue is contradicted by US Customs and Treasury data, which show much lower amounts collected ... Show more
US removes Orban aide Rogan from sanctions list, Treasury Dept website shows: The U.S. Treasury Department has removed sanctions imposed on Hungarian Prime ...
reuters.com/world/us-removes-orban-aide-rogan-sanctions-list-treasury-dept-website-shows-2025-04-15/
US removes Orban aide Rogan from sanctions list, Treasury Dept website ...
Trump administration replaces acting IRS commissioner: Trump's pick to lead the agency still awaits Senate confirmation.
axios.com/2025/04/18/trump-internal-revenue-service-acting-commissioner-replaced
Trump administration replaces acting IRS commissioner
President Donald Trump is trying every tool in the toolbox to pressure Harvard University to bend to his demands that the institution change its policies and ... Show more
IRS agent who investigated Hunter Biden expected to be named acting chief of the tax collection agency
pbs.org/newshour/politics/irs-agent-who-investigated-hunter-biden-expected-to-be-named-acting-chief-of-the-tax-collection-agency
IRS agent who investigated Hunter Biden expected to be named acting chief ...
Trump floats wider IRS tax exemption crackdown: President Trump on Thursday floated a wider crackdown on tax-exempt entities after his administration asked the ...
thehill.com/homenews/administration/5254660-trump-floats-wider-irs-tax-exemption-crackdown/
Trump floats wider IRS tax exemption crackdown
Chaos continued to reign supreme at the Internal Revenue Service after President Donald Trump ousted the agency’s interim commissioner only three days after ... Show more
"Donald Trump is a known tax cheat, and it's clear his core economic agenda is to turn the government into an ATM for his billionaire pals."
Janet Yellen is wrong about US manufacturing — and pretty much everything else : Janet Yellen remains wrong on a host of issues — including inflation ...
thehill.com/opinion/finance/5253634-yellen-trump-manufacturing-pipedream/
Janet Yellen is wrong about US manufacturing — and pretty much everything ...
Trump to Replace Acting IRS Commissioner: Tax agency’s next leader is fifth so far this year
wsj.com/politics/policy/trump-to-replace-acting-irs-commissioner-f5494a97
Trump to Replace Acting IRS Commissioner
The federal government’s assault on immigrants is pushing them to live in the shadows.
IRS agrees to share immigrants' data with ICE: The IRS has previously kept tax returns private, even for undocumented immigrants.
axios.com/2025/04/08/irs-share-immigrant-data-ice-deportations
IRS agrees to share immigrants' data with ICE
Key Facts: Oil Prices Plummet, M&A Activity Stalls
Apr 13 · Reading time: ~30 sec.
Summary created with AI assistance · Source: axios.com
  • Oil prices have fallen to a level where many companies can no longer afford to drill new wells.

  • Deal activity significantly decreases when the economic fundamentals are unfavorable.

  • The profitability threshold for new wells is at least $61 per barrel, while existing wells can remain profitable at $45.

  • Price volatility and uncertainty complicate fair negotiations, prompting companies to focus on existing operations.
US dollar keeps falling as its ‘safe-haven’ status is questioned: US dollar has fallen by roughly 8 per cent in 2025, trading near a three-year low ...
straitstimes.com/business/economy/us-dollar-keeps-falling-as-its-safe-haven-status-is-questioned
US dollar keeps falling as its ‘safe-haven’ status is questioned
IRS to lose billions in revenue if migrants stop filing taxes: The Internal Revenue Service is projected to lose more than $313 billion in revenue in the coming ...
chicagotribune.com/2025/04/10/irs-migrants-filing-taxes/
IRS to lose billions in revenue if migrants stop filing taxes
Trump tariffs drove a Treasury sell-off — who sold the safe-haven asset? : In just a few sessions, yield on the 10-year Treasury soared to 4.592% on Friday ...
cnbc.com/2025/04/15/us-treasurys-selloff-what-happened-and-why.html
Trump tariffs drove a Treasury sell-off — who sold the safe-haven asset?
Acting IRS leader replaced after 3 days as senior DOGE official loses access
washingtonpost.com/business/2025/04/18/irs-shapley-bessent-musk/
Acting IRS leader replaced after 3 days as senior DOGE official loses ...
'Federal government will be damaged': Former IRS official on plan to share immigrant data with ICE | Here & Now
wbur.org/hereandnow/2025/04/09/irs-immigrant-data-ice
'Federal government will be damaged': Former IRS official on plan to share ...
The IRS has begun planning to revoke Harvard’s tax-exempt status. But the legal basis for that move is one that “conservatives, more than anyone, should oppose ... Show more
Trump Administration Plans to Nuke Popular Free IRS Tax Filing System: The IRS’ Direct File program remained functional even after Elon Musk said in February ...
thedailybeast.com/trump-administration-plans-to-nuke-popular-free-irs-tax-filing-system/
Trump Administration Plans to Nuke Popular Free IRS Tax Filing System
GOP Accused Democrats of Politicizing IRS. Now Trump Wants It to Punish Harvard.: The president this week publicly raised the prospect of Harvard losing its ...
on.wsj.com/3RnzYqA
GOP Accused Democrats of Politicizing IRS. Now Trump Wants It to Punish ...
A bigger hole: Trump has already spent $155bn more than Biden. Musk now claims DOGE only saved $150bn
independent.co.uk/news/world/americas/us-politics/musk-trump-bigger-debt-150-billion-b2733310.html
A bigger hole: Trump has already spent $155bn more than Biden ...
Tax Deadline Day Comes With IRS Enforcement Shrinking: This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today ...
bloomberg.com/news/newsletters/2025-04-15/tax-deadline-day-comes-with-irs-enforcement-shrinking
Tax Deadline Day Comes With IRS Enforcement Shrinking
Trump Comes Running to His Buddy’s Rescue Over IRS Audit: A Trump administration official took the unprecedented step of reaching out to the IRS.
newrepublic.com/post/194122/donald-trump-mypillow-mike-lindell-irs-audit
Trump Comes Running to His Buddy’s Rescue Over IRS Audit
Almost 20,000 IRS employees taking second Trump buyout offer: Bloomberg: Nearly 20,000 Internal Revenue Service (IRS) employees are taking the Trump ...
thehill.com/homenews/administration/5250251-trump-irs-employees-buyouts/
Almost 20,000 IRS employees taking second Trump buyout offer: Bloomberg
Musk's DOGE team can access sensitive data for now, appeals court rules: A divided federal appeals court on Monday put on hold an injunction that blocked Elon ...
reuters.com/world/us/musks-doge-team-can-access-government-data-now-appeals-court-rules-2025-04-07/
Musk's DOGE team can access sensitive data for now, appeals court rules
Clips of Trump, Vance and Cruz saying they’d stop the IRS from political attacks resurface after Trump’s Harvard threat
independent.co.uk/news/world/americas/us-politics/trump-vance-cruz-irs-harvard-b2735343.html
Clips of Trump, Vance and Cruz saying they’d stop the IRS from political ...
With Harvard Threat, Trump Tries to Bend the I.R.S. to His Will: Since the post-Nixon era, the Internal Revenue Service has had a degree of independence from the ...
nytimes.com/2025/04/18/us/politics/trump-irs.html
With Harvard Threat, Trump Tries to Bend the I.R.S. to His Will
Trump-Musk Assault on IRS Could Let Wealthy Evade $30 Million in Taxes—Per Day: "By seeking to gut the IRS, President Trump and Elon Musk would make it ...
commondreams.org/news/irs-high-wealth-tax-evasion
Trump-Musk Assault on IRS Could Let Wealthy Evade $30 Million in Taxes—Per ...
Social Security lists thousands of living immigrants as dead to push them to leave
pennlive.com/nation-world/2025/04/social-security-lists-thousands-of-living-immigrants-as-dead-to-push-them-to-leave.html
Social Security lists thousands of living immigrants as dead to push them ...
Key Facts: US Government Declares Living Immigrants Dead
Apr 16 · Reading time: ~45 sec.
Summary created with AI assistance · Source: 1news.co.nz
  • The Trump administration has classified over 6,000 living immigrants as deceased, revoking their Social Security numbers to encourage them to leave.

  • This action complicates access to essential services for those affected, as Social Security numbers are necessary.
  • "This President continues to engage in lawless behaviour, violating the law and abusing our systems of checks and balances."— Skye Perryman, president and CEO of Democracy Forward, regarding the legal actions of the Trump administration.
  • Additionally, the legal status of immigrants using the CBP One app has been revoked, pushing them towards self-deportation.

  • However, a federal judge has halted the order to force hundreds of thousands of immigrants with temporary legal status to depart.
Musk and Trump fan flames of Fort Knox gold conspiracy theory : The baseless conspiracy theory that the Fort Knox gold might be gone, spread by Musk and Trump ...
nbcnews.com/tech/elon-musk/musk-trump-fan-flames-fort-knox-gold-conspiracy-theory-rcna199354
Musk and Trump fan flames of Fort Knox gold conspiracy theory
Think the Trump Tariffs Are Bad Now? Just Wait Until This Happens.: From soaring loans to higher prices, to shifting global alliances, a faltering dollar could ...
slate.com/business/2025/04/trump-tariffs-trade-war-us-dollar-fall-stock-market.html
Think the Trump Tariffs Are Bad Now? Just Wait Until This Happens.
CNBC Daily Open: United Airlines offers two earnings estimates, reflecting turbulence in economy
cnbc.com/2025/04/16/cnbc-daily-open-united-airlines-two-forecasts-reflect-turbulence.html
CNBC Daily Open: United Airlines offers two earnings estimates ...
Trump says 'joke' Harvard should be stripped of funds: Trump's administration had also formally asked the Internal Revenue Service (IRS) to revoke the famed seat ...
ewn.co.za/2025/04/17/trump-says-joke-harvard-should-be-stripped-of-funds
Trump says 'joke' Harvard should be stripped of funds
The IRS interim commissioner was just ousted after Scott Bessent reportedly fussed to Trump that Elon Musk installed the leader behind his back
fortune.com/article/internal-revenue-service-irs-elon-musk-scott-bessent-treasury-secretary-doge-gary-shapley/
The IRS interim commissioner was just ousted after Scott Bessent ...
Judge relaxes ban on DOGE access to sensitive US Treasury information: One DOGE worker can access sensitive payment and data systems if he completes training ...
stltoday.com/news/nation-world/crime-courts/article_7f94b6e1-34eb-5390-aa37-f2a59d23fe8d.html
Judge relaxes ban on DOGE access to sensitive US Treasury information
Can China use US debt in its tariff war against Trump?: China is the second largest holder of US debt and could, theoretically, dump it to devalue the dollar.
aljazeera.com/economy/2025/4/14/can-china-use-us-debt-in-its-tariff-war-against-the-us
Can China use US debt in its tariff war against Trump?
Treasury's Bessent says economy "in pretty good shape" despite market rout: The comments come hours after Trump's reciprocal tariffs took effect ...
axios.com/2025/04/09/economy-bessent-trump-tariffs-stock-market
Treasury's Bessent says economy