SPRING, Texas — Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the second quarter and fiscal year-to-date period ended October 31, 2024. “Net sales for the third quarter were $41.6 million, a decrease of $4.1 million, as compared to the same quarter last year. Net income attributable to common stock of $2.5 million was an increase of $0.5 million, or 29%, compared to $1.9 million in the third quarter of 2023. For the nine months ended October 31, 2024, net sales of $113.4 million represent an increase of 3% compared to the nine months ended October 31, 2023. The net income attributable to common stock of $7.2 million was an increase of $5.4 million, or 294%, compared to net income attributable to common stock of $1.8 million in the nine months ended October 31, 2023,” noted President and CEO David Mansfield. “Backlog in the third quarter shows considerable growth and now stands at $114.2 million. This is the equivalent to approximately nine months revenue based upon prior years’ revenues. The continual strengthening of our backlog over the past two quarters is encouraging and provides a sense of optimism heading into next year. Additionally, backlog at the end of the third quarter represents the highest level since transitioning from MFRI to Perma-Pipe, which occurred in March 2017,” Mr. Mansfield continued. “Our third quarter and fiscal 2024 year-to-date results continue to reflect exceptional performance, which has remained consistent throughout the year. It is worth noting that our net income attributable to common stock for the nine months ended October 31, 2024, represents the highest level of earnings on a year-to-date basis since transitioning from MFRI to Perma-Pipe,” said Mr. Mansfield. “We are pleased with the level of business activity we have experienced and continue to see, as supported by the significant rise in backlog and share price. The increases in infrastructure spending in Saudi Arabia, India, and the U.A.E., represent key drivers of our overall improvement, for which the strength of our financial results further enables us to continue to execute on strategic initiatives,” concluded Mr. Mansfield. Net sales were $41.6 million and $45.7 million in the three months ended October 31, 2024 and 2023, respectively. The decrease of $4.1 million, or 9%, was a result of the timing of project execution. Gross profit was $14.1 million, or 34% of net sales, and $13.2 million, or 29% of net sales, in the three months ended October 31, 2024 and 2023, respectively. The increase of $0.9 million, was driven primarily by better margins due to product mix. General and administrative expenses were $7.3 million and $5.7 million in the three months ended October 31, 2024 and 2023, respectively. The increase of $1.6 million, was due to higher payroll expenses and professional fees in the quarter. Selling expenses were $1.2 million and $1.5 million in the three months ended October 31, 2024 and 2023, respectively. The decrease of $0.3 million, was due to lower payroll expense in the quarter. Net interest expense remained consistent and was $0.5 million and $0.6 million in the three months ended October 31, 2024 and 2023, respectively. Other expense was $0.1 million and $0.5 million in the three months ended October 31, 2024 and 2023, respectively. The decrease of $0.4 million, was due primarily to exchange rate fluctuations in foreign currency transactions. The Company’s ETR was 32% and 31% in the three months ended October 31, 2024 and 2023, respectively. The change in the ETR is due to the ability to recognize tax benefits on losses in the United States in the current year whereas the prior year had a full valuation allowance and changes to the mix of income and loss in various jurisdictions. Net income attributable to common stock was $2.5 million and $1.9 million in the three months ended October 31, 2024 and 2023, respectively. The increase of $0.6 million, was mainly due to better project execution in the quarter. Net sales were $113.4 million and $110.5 million in the nine months ended October 31, 2024 and 2023, respectively. The increase of $2.9 million, or 3%, was a result of increased sales volumes in the Middle East. Gross profit was $38.1 million, or 34% of net sales, and $29.4 million, or 27% of net sales, in the nine months ended October 31, 2024 and 2023, respectively. The increase of $8.7 million, was driven primarily by better margins due to product mix. General and administrative expenses were $19.5 million and $16.4 million in the nine months ended October 31, 2024 and 2023, respectively. The increase of $3.1 million, was due to higher payroll expenses and professional fees. Selling expenses were $3.8 million and $4.2 million in the nine months ended October 31, 2024 and 2023, respectively. The decrease of $0.4 million, was due to lower payroll expenses. Net interest expense was $1.5 million and $1.8 million in the nine months ended October 31, 2024 and 2023, respectively. The decrease of $0.3 million, was due primarily to declining interest rates on certain variable rate debt. Other expense was $0.2 million and $0.4 million in the nine months ended October 31, 2024 and 2023, respectively. The change was due primarily to exchange rate fluctuations in foreign currency transactions. The Company’s ETR was 28% and 49% in the nine months ended October 31, 2024 and 2023, respectively. The change in the ETR is due to the ability to recognize tax benefits on losses in the United States in the current year whereas the prior year had a full valuation allowance and changes to the mix of income and loss in various jurisdictions. Net income attributable to common stock was $7.2 million and $1.8 million in the nine months ended October 31, 2024 and 2023, respectively. The increase of $5.4 million, was mainly due to better project execution during the year. Perma-Pipe International Holdings, Inc. (the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, the Company has operations at fourteen locations in six countries. Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company’s operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) fluctuations in the price of oil and natural gas and its impact on customer order volume for the Company’s products; (ii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (iii) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve sustained profitability and positive cash flows; (vi) the Company’s ability to collect a long-term account receivable related to a project in the Middle East; (vii) the Company’s ability to interpret changes in tax regulations and legislation; (viii) the Company’s ability to use its net operating loss carryforwards; (ix) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s “over-time” revenue recognition; (x) the Company’s failure to establish and maintain effective internal control over financial reporting; (xi) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (xii) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xiii) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xiv) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xv) reductions or cancellations of orders included in the Company’s backlog; (xvi) risks and uncertainties specific to the Company’s international business operations; (xvii) the Company’s ability to attract and retain senior management and key personnel; (xviii) the Company’s ability to achieve the expected benefits of its growth initiatives; (xix) the impact of pandemics and other public health crises on the Company and its operations; and (xx) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at and under the Investor Center section of our website ( .) Additional information regarding the Company’s financial results for the three months ended October 31, 2024, including management’s discussion and analysis of the Company’s financial condition and results of operations, is contained in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended October 31, 2024, which will be filed with the Securities and Exchange Commission on or about the date hereof and will be accessible at and . For more information, visit the Company’s website.WASHINGTON — FBI Director Christopher Wray told the bureau workforce Wednesday he plans to resign at the end of President Joe Biden’s term in January, an announcement that came a week and a half after President-elect Donald Trump said he would nominate loyalist Kash Patel for the job. Wray said at a town hall meeting that he would step down “after weeks of careful thought,” three years short of the completion of a 10-year term marked by high-profile and politically charged investigations, including that those led to two separate indictments of Trump last year. Wray’s intended resignation is not unexpected considering that Trump settled on Patel to be director and repeatedly aired his ire at Wray. By stepping down rather than waiting to be fired, Wray is trying to avert a collision with the new Trump administration that he said would have further entangled the FBI “deeper into the fray.” Wray was put in the job by Trump and began the 10-year term — a length meant to insulate the agency from the political influence of changing administrations — in 2017, after Trump fired then-FBI Director James Comey. Get local news delivered to your inbox!
CDWP okays 15 development projects worth Rs422.704 blnNEW YORK , Dec. 15, 2024 /PRNewswire/ -- The global pesto sauces market size is estimated to grow by USD 936.2 million from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 4.36% during the forecast period. The report provides a comprehensive forecast of key segments below- Segmentation Overview 1.1 Retail 1.2 Foodservice 2.1 Glass bottles 2.2 PET 2.3 Cans 2.4 Pouches 2.5 Cartons 3.1 Europe 3.2 North America 3.3 South America 3.4 APAC 3.5 Middle East and Africa Get a glance at the market contribution of rest of the segments - Download a FREE Sample Report in minutes! 1.1 Fastest growing segment: The global pesto sauces market is experiencing growth due to the rising popularity of Italian cuisine among consumers. This trend is driving sales of pesto sauces through various retail channels, including supermarkets and hypermarkets. These retail channels offer consumers a wide range of options from various brands, making it convenient for them to make a purchase. The increasing prominence of private label brands by supermarket and hypermarket chains is a positive trend that can boost the market's growth. Additionally, the online sale of pesto sauces is increasing due to the convenience factor, further contributing to the market's expansion. Overall, the retail segment is expected to significantly contribute to the growth of the global pesto sauces market during the forecast period. Analyst Review The global pesto sauces market may seem unrelated to heart health, but the connection lies in the broader context of cardiac care. As the global population ages, the prevalence of cardiovascular diseases, including heart failure and cardiac disorders, increases. These major medical issues call for innovative solutions, from medicine and medical technology to materials science, robotics, and biotechnology. Heart transplantation and the use of donor organs remain crucial, but temporary treatments like cardiac assist devices and artificial hearts are gaining popularity. The pesto sauces market, while not directly related to heart health, can contribute to cardiac care through the use of healthy ingredients that support heart health. The market is expected to grow, driven by consumer demand for natural, organic, and convenient food options. Market Overview The global pesto sauces market may not directly relate to heart failure or cardiac disorders, but the world's aging population and the increasing prevalence of cardiovascular diseases (CVDs) have led to a significant focus on cardiac care and the development of advanced medical technologies. These include cardiac assist devices, artificial hearts, and ventricular assist devices. Technological breakthroughs in materials science, robotics, and biotechnology are driving innovation in this field. Regulatory approvals, clinical evidence, and ethical considerations are key factors influencing the market. Major medical issues such as biventricular heart failure, heart transplantation, and mechanical heart implants require continuous monitoring, maintenance, and post-operative care. The high cost and restricted accessibility of these treatments remain significant challenges. Technological complexity and ethical considerations are also crucial factors, with artificial intelligence and machine learning technologies playing an increasingly important role in improving device performance and patient comfort. The global healthcare spending on cardiovascular diseases is expected to continue rising, making it a significant market opportunity for medical device manufacturers, academic institutions, and research centers. To understand more about this market- Download a FREE Sample Report in minutes! Key Topics Covered: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Venodr Landscape 11 Vendor Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ SOURCE Technavio
Market Wrap: All-Share Index dips 0.17% as EUNISELL soars to lead gainers
While many people will receive legitimate emails and messages from delivery companies and businesses this holiday shopping season, sometimes it’s hard to distinguish between real and fake solicitations. UScellular wants to help ensure you stay diligent and prevent getting scammed. Identity thieves know that shoppers may be particularly vulnerable during the holiday season. If the message conveys urgency and asks you to do something immediately, consider that a red flag. Also never click on a link in a text message unless you are 100 percent certain who sent it to you. Be especially vigilant about fake promotions, pop-up ads, package tracking emails, e-cards, charity donation links, and purchase confirmation emails. When in doubt, call the organization directly. “Now that the holiday shopping season is here, we want to provide Maine consumers with tips to stay safe while buying gifts for family and friends,” said Kyle Burbine, interim director of sales and operations for UScellular in New England. “UScellular wants to help customers find everything on their list, without the threat of fraud and scammers ruining their holiday spirit.” If you suspect a message is a scam, you can report it using the free SpamResponse app that empowers customers to easily report potential text message spam. In response to reported spam, UScellular can investigate fraudulent websites – and can get them shut down, creating a safer and better customer experience. UScellular is sharing the following tips to help you prevent scams around the holidays or anytime: Do not respond to unwanted texts from questionable sources. Don’t click on links in texts from any unknown numbers. Don’t answer calls from unknown numbers. If you answer such a call, hang up immediately. If you miss a call from an unknown number, don’t call it back. You may not be able to tell right away if an incoming call is spoofed. Caller ID showing a “local” number does not necessarily mean it is a local caller. Never give out personal information such as account numbers, Social Security numbers, passwords or other identifying information if you are at all suspicious. Additionally, UScellular’s free Call Guardian app provides spam call identification based on known offenders. Users can also report suspect numbers quickly within the app or by going to reportarobocall.com . Call Guardian Premium ($3.99 per month) provides enhanced call details, including “Potential Spam”, “Potential Fraud” or “Robocall” with a risk level of “High”, “Medium” or “Low” to better inform you on who is truly calling. UScellular is the fourth-largest full-service wireless carrier in the United States, providing national network coverage and industry-leading innovations designed to help customers stay connected to the things that matter most. The Chicago-based carrier provides a strong, reliable network supported by the latest technology and offers a wide range of communication services that enhance consumers’ lives, increase the competitiveness of local businesses and improve the efficiency of government operations. Through its After School Access Project , the company has donated more than $23 million in hotspots and services to help youth connect to reliable internet. To learn more about UScellular, visit one of its retail stores or www.uscellular.com . To get the latest news, visit newsroom.uscellular.com . More articles from the BDN
Incoming U.S. president Donald Trump is brushing off Ontario's threat to restrict electricity exports in retaliation for sweeping tariffs on Canadian goods, as the province floats the idea of effectively barring sales of American alcohol. On Wednesday, Premier Doug Ford said Ontario is contemplating restricting electricity exports to Michigan, New York state and Minnesota if Trump follows through on a threat to impose a 25 per cent tariff on imports from Canada. "That's OK if he that does that. That's fine," Trump told American network CNBC when asked Thursday about Ford's remarks on the floor of the New York Stock Exchange. "The United States is subsidizing Canada and we shouldn't have to do that," Trump added. "And we have a great relationship. I have so many friends in Canada, but we shouldn't have to subsidize a country," he said, claiming this amounts to more than US$100 annually in unspecified subsidies. Meanwhile, an official in the Ford government says it's considering restricting the Liquor Control Board of Ontario from buying American-made alcohol. The province says the Crown agency is the largest purchaser of alcohol in the world. The province also says it could restrict exports of Canadian critical minerals required for electric-vehicle batteries, and bar American companies from provincial procurement. Ford doubled down Thursday on the idea of cutting off energy exports. The province says that in 2013, Ontario exported enough energy to power 1.5 million homes in those three states. "It's a last resort," Ford said. "We're sending a message to the U.S. (that if) you come and attack Ontario, you attack livelihoods of people in Ontario and Canadians, we are going to use every tool in our tool box to defend Ontarians and Canadians. Let's hope it never comes to that." Ontario Energy Minister Stephen Lecce said the province would rather have co-operation with the U.S., but has mechanisms to "end power sale into the U.S. market" the day Trump takes office on Jan. 20. Alberta Premier Danielle Smith ruled out following suit. "Under no circumstances will Alberta agree to cut off oil and gas exports," she said. "Our approach is one of diplomacy, not threats." Michael Sabia, president and CEO of Hydro-Quebec, said "it's not our current intention" to cut off Quebec's exports to Massachusetts or New York state, but he conceded it might be possible. "Our intention is to respect those contracts, both because they're legally binding, but also because it's part of, in our view, a sound relationship with the United States," he said. "It's a questionable instrument to use in a trade conflict." Manitoba Premier Wab Kinew would not directly say whether Manitoba would threaten to withhold hydroelectric exports. "We are preparing our list and starting to think through what those options should look like," he said. "I'm not going to make specific news today about items that we're looking at." Kinew added that some premiers felt retaliatory measures wouldn't work in a call Trudeau held Wednesday. Newfoundland and Labrador Premier Andrew Furey said "we have no interest in stopping" the export of energy to the U.S., adding that a trade war would hurt both countries. "We hope it is just bluster; we're preparing as if it is not," he said. Canada supplies more oil to the U.S. than any other country. About 60 per cent of U.S. crude oil imports are from Canada, and 85 per cent of U.S. electricity imports as well. Canada sold $170 billion worth of energy products last year to the U.S. It also has 34 critical minerals and metals the Pentagon is eager for. Trump has threatened to impose a 25 per cent tax on all products entering the United States from Canada and Mexico unless they stem the flow of migrants and drugs. Canadian officials have said it is unfair to lump Canada in with Mexico. U.S. customs agents seized 43 pounds of fentanyl at the Canadian border last fiscal year, compared with 21,100 pounds at the Mexican border. Canada since has promised more border security spending to address Trump's border concerns. Ford said that will include more border and police officers, as well as drones and sniffer dogs. This report by The Canadian Press was first published Dec. 12, 2024. -- With files from The Associated Press, Liam Casey in Toronto, Lisa Johnson in Edmonton and Steve Lambert in Winnipeg.
'Take it with the spirit of service': VP Jagdeep Dhankhar expresses concern over commercialisation of educationSupreme Court will take up a challenge related to California's tough vehicle emissions standards WASHINGTON (AP) — The Supreme Court says it will take up a business-backed appeal that could make it easier to challenge federal regulations, acting in a dispute related to California’s nation-leading standards for vehicle emissions. The justices agreed Friday to hear an appeal filed by fuel producers who object to a waiver granted to California in 2022 by the Environmental Protection Agency during Joe Biden’s presidency. The waiver allows California to set more stringent emissions limits than the national standard. The case won’t be argued until the spring, when the Trump administration is certain to take a more industry-friendly approach to the issue. Musk says US is demanding he pay penalty over disclosures of his Twitter stock purchases DETROIT (AP) — Elon Musk says the Securities and Exchange Commission wants him to pay a penalty or face charges involving what he disclosed — or failed to disclose — about his purchases of Twitter stock before he bought the social media platform in 2022. In a letter, Musk’s lawyer Alex Spiro tells the outgoing SEC chairman, Gary Gensler, that the commission’s demand for a monetary payment is a “misguided scheme” that won’t intimidate Musk. The letter also alleges that the commission reopened an investigation this week into Neuralink, Musk’s computer-to-human brain interface company. The SEC has not released the letter. Nor would it comment on it or confirm whether it has issued such a demand to Musk. Trump hosts Apple CEO at Mar-a-Lago as big tech leaders continue outreach to president-elect WEST PALM BEACH, Fla. (AP) — Donald Trump is hosting Apple CEO Tim Cook for a Friday evening dinner at the president-elect’s Mar-a-Lago resort. That's according to a person familiar with the matter who is not authorized to comment publicly. Trump has said he’s recently spoken with Cook about the company’s long-running tax battles with the European Union. The Republican said in October that he had spoken to Cook weeks after Apple lost its last appeal to avoid paying 13 billion euros ($14.34 billion) in back taxes to Ireland. The Trump transition team and Apple did not respond to a requests for comment about Trump's meeting with Cook. Flight takes kids to visit Santa at North Pole scene in transformed Denver airport hangar DENVER (AP) — More than 100 kids have been treated to an airplane flight and visit to a hangar at Denver International Airport that was transformed into the North Pole. Streamers, paper snowflakes and tufts of cotton resembling feathery snow dotted the plane and seats. The children, including some with serious health issues, were asked before the final approach to draw the shades on their windows. When they opened, the kids were greeted by a waiting Santa and Mrs. Claus and a host of elves. Saturday's event was part of United Airlines’ annual holiday-season “fantasy flights” at airports around the world to bring cheer to children and their families. Senate begins final push to expand Social Security benefits for millions of people WASHINGTON (AP) — The Senate is pushing toward a vote on legislation that would provide full Social Security benefits to millions of people. Senate Majority Leader Chuck Schumer began the process on Thursday for a final vote on the bill, known as the Social Security Fairness Act. It would eliminate policies that currently limit Social Security payouts for roughly 2.8 million people. The legislation has passed the House. The bill would add more strain on the Social Security Trust funds, which are already estimated to be unable to pay out full benefits beginning in 2035. The measure would add an estimated $195 billion to federal deficits over 10 years, according to the Congressional Budget Office. Court denies TikTok's request to halt enforcement of potential US ban until Supreme Court review A federal appeals court has left in place a mid-January deadline in a federal law requiring TikTok to be sold or face a ban in the United States. Judges on the U.S. Court of Appeals for the District of Columbia Circuit rejecting a request made by the company to halt enforcement until the Supreme Court reviews its challenge of the statute. Attorneys for TikTok and its China-based parent company, ByteDance, are expected to appeal to the Supreme Court. It’s unclear if the nation’s highest court will take up the case. But some experts say they expect the justices to weigh in. TikTok is also looking for a potential lifeline from President-elect Donald Trump, who promised to “save” the short-form video platform during the presidential campaign. Saudi Arabia banned film for 35 years. The Red Sea festival is just one sign of the industry's rise JEDDAH, Saudi Arabia (AP) — “My Driver and I” was supposed to be made in 2016, but was scuttled amid Saudi Arabia’s decades-long cinema ban. Eight years later, the landscape for film in the kingdom looks much different. And the star of “My Driver and I” now has an award. Roula Dakheelallah was named the winner of the Chopard Emerging Saudi Talent award at the Red Sea International Film Festival on Thursday. Both the award and the glitzy festival itself are signs of Saudi Arabia’s commitment to shaping a new film industry. The reopening of cinemas in 2018 after 35 years marked a cultural turning point for Saudi Arabia. 'Tis the season for roasting chestnuts. But in the US, native ones are almost gone Right now chestnut enthusiasts are cozying up next to their open fires (or toaster ovens) to roast a holiday snack that has long roots in North America. But the chestnuts they're roasting aren't native, because the American variety has been mostly wiped out by an invasive fungal blight since the 1930s. Researchers are laboring to bring them back, even as they have hit roadblocks and setbacks in attempts to breed or genetically modify a version that can withstand the blight. If and when they succeed, they'll still need to figure out how to plant it and help it thrive in forests that are already under pressure from climate change, globalization and development. Trump offers support for dockworkers union by saying ports shouldn't install more automated systems WASHINGTON (AP) — President-elect Donald Trump is offering his support for the dockworkers union before their contract expires next month at Eastern and Gulf Coast ports. He posted on social media Thursday that he met with union leaders and that any further “automation” of the ports would harm workers. He wrote that the “amount of money saved is nowhere near the distress, hurt, and harm it causes for American Workers.” The International Longshoremen’s Association has until Jan. 15 to negotiate a new contract with the U.S. Maritime Alliance, which represents ports and shipping companies. The Maritime Alliance says the technology will improve worker safety and strengthen our supply chains, among other things. IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power WASHINGTON (AP) — IRS leadership on Thursday announced that the agency has recovered $4.7 billion in back taxes and proceeds from a variety of crimes. The announcement comes under the backdrop of a promised reckoning from Republicans who will hold a majority over both chambers of the next Congress and have long called for rescinding the tens of billions of dollars in funding provided to the agency by Democrats. IRS Commissioner Danny Werfel said improvements made to the agency will help the incoming administration and new Republican majority congress achieve its goals of administering an extension of the 2017 Tax Cuts and Jobs Act.
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Tulane QB Mensah transfers to Duke; Mississippi State’s Van Buren, Cal’s Mendoza enter portalSubversive media spreads false claims of aerial bombardment in HakhaTulane QB Mensah transfers to Duke; Mississippi State’s Van Buren, Cal’s Mendoza enter portal