Popularized in films like Limitless, legal smart drugs called Nootropics are becoming more and more prevalent in board rooms and on Wall Street.Keep reading »
Helping foreign tax avoiders is not a legitimate way to drum up business, sayeth a federal judge.
Bank industry lobbying groups in Texas and Florida in April challenged the U.S. rules in a lawsuit against the Treasury Department and the IRS, saying the rules were burdensome and would discourage U.S. foreign investment.
Judge James Boasberg of the U.S. District Court for the District of Columbia, in a 23-page opinion, dismissed the lawsuit, finding that the new rules “would cause minimal burden to banks and their customers.”
Written in 2012, the rule would require disclosure by U.S. banks of information about accounts held by non-resident aliens that earn at least $10 of interest per year.