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Friday, June 19, 2026

The IRS says it can raise $50 billion by closing an ‘abusive’ tax loophole used by the ultra-rich

The Internal Revenue Service says it could raise more than $50 billion over the next decade by closing a major tax loophole used by the wealthy, according to the Treasury Department. Suggested Reading Tesla has settled another deadly Autopilot crash lawsuit Elon Musk’s Tesla pay, YouTube’s ad problem, …

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