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WASHINGTON – The Eighth Circuit Court of Appeals issued a precedential opinion on Friday, April 24, 2020, affirming a district court decision that a transaction designed to generate massive foreign tax credits (referred to as the STARS tax shelter) lacked economic substance and business purpose and was subject to the accuracy-related penalty for negligence, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman and Deputy Assistant Attorney General Joshua Wu of the Justice Department’s Tax Division.In Wells Fargo v. United States, No. 17-3578, the Eighth Circuit Court of Appeals affirmed the decision of the U.S. District Court for the District of...

Wells Fargo also will likely cut dividend to boost capital, analyst says BY ALISTAIR BARR SAN FRANCISCO (MarketWatch) — Bank of America Corp. needs more than $80 billion in new common equity capital to support the huge amount of assets on its balance sheet, an analyst said Tuesday. Friedman, Billings, Ramsey's Paul Miller also said Wells Fargo & Co. (NYSE:WFC) probably will have to cut its dividend soon as that bank tries to boost capital. Shares of Bank of America slumped 29% to close at $5.10 on Tuesday. That's the lowest level since late 1990. Wells Fargo lost 24% to...

No word of how he got it-Team Barry isn't actually leaking to dKos, is it?-and naturally he misunderstands Jim Geraghty's point about Obama's place of birth, which would have been relevant not with respect to his "Americanness" but whether he was constitutionally qualified to run as a natural-born citizen. But here it is.Update: Not that it matters for purposes of addressing Geraghty's concerns, but Flip notes that the posted document is a certification of birth, which is slightly different from a birth certificate.

Associated Press Rhonda Galbraith/AP Photo Members of the pop group 'N Sync, Lance Bass, left, Chris Kirkpatrick, second left, Justin Timberlake, center, JC Chasez, second right, and Joey Fatone, right, arrive at a party celebrating their entrance into motion pictures, at Cannes Film Festival in Cannes, France, May 16, 2000. NEW YORK - Lance Bass, band member of 'N Sync, says he's gay and in a "very stable" relationship with a reality show star. Bass, who formed 'N Sync with Justin Timberlake, JC Chasez, Joey Fatone and Chris Kirkpatrick, tells People magazine that he didn't earlier disclose his sexuality because...

NBC, ANDREA MITCHELL: Carter was told no former presidents were going to pope funeral... Developing...