A recent Register editorial backed President Joe Biden’s plan to throw an additional $80 billion in taxpayer money back at the IRS to recoup unpaid taxes. These pages said I “should be leading the charge to ensure tax scofflaws are pursued.” The Register failed to recognize that I’ve been leading this charge for years.
As a taxpayer watchdog and longtime member of the Senate’s tax-writing Finance Committee, here are just some of the ways I’ve worked to hold tax cheats accountable without spending excess billions in the process:
Private Debt Collection Program: I championed the effort in 2015 to create public/private partnership, which uses independent contractors to help the IRS collect unpaid debts. This program has been extremely successful, recovering more than $969 million since 2017. The program’s growing success has allowed the IRS to hire additional staff.
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On April 21, 2021, FDA’s Center for Biologics Evaluation and Research (CBER) Director Peter Marks M.D. confirmed that the grace period intended to provide developers of regenerative medicines with time to assess whether they needed to file an investigational new drug application (IND) or marketing application with FDA, will conclude at the end of the month. The decision comes as a surprise to some in the industry that speculated the agency may provide further reprieve due to challenges presented by the ongoing COVID-19 pandemic. However, others in the industry appear less surprised given the agency’s prior admonishment of unapproved regenerative medicine products marketed as COVID-19 treatments, which were called “uncontrolled experimental procedures” in a JAMA article by then-FDA Commissioner Stephen Hahn, M.D., and Dr. Marks in June 2020.
Stephen Lowe: FCA s stronger nudge wrong solution at wrong time
Cry for help
Stephen Lowe: If the feeble ‘stronger nudge is the best a constrained FCA is allowed to come up with then it s time the government started to loosen the shackles.
Stephen Lowe
Stephen Lowe looks at the latest attempt to boost Pension Wise guidance take-up and is not impressed with the FCA s stronger nudge policy, which he says is doomed to fail.
Three years on from the Financial Guidance & Claims Act we finally have sight of how the Financial Conduct Authority (FCA) plans to meet its obligation to increase the numbers taking up their entitlement.
FCA requires providers to book Pension Wise appointments in guidance push
‘Stronger nudge’
Sheldon Mills: We know that when people use Pension Wise they are happy with the service and find it helpful. However, few people are choosing to attend a guidance appointment.
Pension providers will be required to book Pension Wise appointments for customers under new plans published by the regulator as it attempts to increase retirement guidance take-up.
Providers currently have a duty to signpost clients to Pension Wise for guidance on their retirement plans but will now be required to book the appointment for customers under a stronger nudge policy.
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