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Legislation Reversing $600 Threshold for Reporting Payments to IRS Filed by U.S. Sen. Bill Hagerty April 11, 2025 Tom Pappert Bill Hagerty U.S. Senator Bill Hagerty (R-TN) filed legislation on Thursday to reverse the decision to require third-party payment processors to report transfers more than $600 to the Internal Revenue Service (IRS). Hagerty called the three-year-old policy an “egregious and unwarranted overreach” into citizens’ privacy. Hagerty introduced the Stop the Nosy Obsession with Online Payments (SNOOP) Act, which his office said would remove the provisions of the Internal Revenue Code created by former President Joe Biden’s American Rescue Plan (ARP),...

KEY POINTS: * For customers, fintech promised the best of both worlds: The innovation, ease of use and fun of the newest apps combined with the safety of government-backed accounts held at real banks. * The collapse of middleman Synapse has revealed fintech’s promise of safety as a mirage. More than 100,000 Americans with $265 million in deposits have been locked out of their accounts. * The implications of this disaster may be far-reaching. The most popular banking apps in the country, including Block’s Cash App, PayPal and Chime, partner with banks instead of owning them. * CNBC reached out...

Flowers sit at a tree in front of the building where technology executive Bob Lee was fatally stabbed. An arrest has been made in connection with the killing of Cash App founder Bob Lee. San Francisco police apprehended a man Emeryville, California, early Thursday, Mission Local reported. Initial reports claim the suspect personally knew Lee. Lee’s ex-wife Krista Lee confirmed an arrest was made in an interview with KTVU Fox 2 early Thursday. “This is the first step toward justice,” she said.

San Francisco Police Officers Association's vice president, Lt. Tracy McCray, has said the neighborhood where Cash App founder Bob Lee was murdered has already witnessed at least 12 homicides this year alone. The city's Southern and Tenderloin Districts which have experienced rising crime rates this year have seen four stabbing incidents in the last week alone, including Lee's. McCray says the police force is understaffed and the entire neighborhood is now at a tipping point. 'We are short staffed so just our presence in patrolling is severely lacking right now. To see a certain uptick in crime is to be...

Music mogul David Foster's Democrat daughter Sara Foster excoriated liberal politicians who are 'ruining cities' and referred to to San Francisco as a 'complete s**thole' over the murder of CashApp founder Bob Lee. Father-of-two Lee, 43, was knifed multiple times in the chest early Tuesday as he strolled through the progressive city's well-heeled Rincon Hill neighborhood while on a business trip. Foster, 42, the daughter of music mogul David Foster and a model/actress who starred on the reboot of 90210, ripped into the left for what she feels is their responsibility for his death.

An influential member of the tech industry has died after a horrific stabbing in San Francisco, California. Around 2:30 a.m. Tuesday morning, San Francisco police responded to a call about an attack on Main Street in SoMa, an entertainment and financial district on the city's east side. When officers arrived, they found a man "suffering from apparent stab wounds." The man was rushed to a nearby hospital, where he later died from his injuries. The victim was later identified as tech titan Bob Lee, known on social media as Crazy Bob. He was just 43 years old. According to SFPD,...

Tragic video shows dying Cash App founder Bob Lee was ignored by bystanders as he begged for help after being stabbed in San Francisco early Tuesday. Before succumbing to his injuries, the 43-year-old chief product officer of MobileCoin walked up to a parked car that had its hazard flashers on to try to get help, according to surveillance footage obtained by the San Francisco Standard. Footage showed Lee lifted his shirt to show the driver his two stab wounds — but collapsed to the ground as the car drove off. Lee called 911 at 2:34 a.m. and pleaded for help,...

Tech executive Bob Lee, who created the mobile payment service Cash App, was stabbed to death in San Francisco, Calif., on Tuesday morning, according to reports. He was 43 years old. The tech mogul, who formerly served as the chief technology officer of Square, was attacked in the city’s downtown Rincon Hill neighborhood at 2:35 a.m., according to San Francisco police. Officers arrived to find the victim, later confirmed to be Lee by CBS News, with multiple stab wounds. Lee was taken to a nearby hospital, where he succumbed to his injuries, police told the outlet. No arrests have been...

Hackers are breaking into unsuspecting victims’ Cash App accounts, a massively popular payment app, and stealing hundreds of dollars, according to victims Motherboard spoke to. In one person’s case, they said, Cash App has not reimbursed them for the stolen funds. Cash App is one of the most popular payment services apps, with over 50 million downloads from the Google Play Store. Cash App also gained some infamy for large scale cash giveaways on social media. The app is owned by payment services company Block, which was formerly known as Square. Jack Dorsey runs the company. Marvis Herring, another target,...