| France takes aim at US inaction in Mideast Posted: 23 Nov 2019 03:50 AM PST  French Defence Minister Florence Parly took aim Saturday at "gradual US disengagement" in the Middle East and said its failure to respond to provocations blamed on Iran set off a dangerous chain of events. Since May, tensions in the Gulf have increased with attacks against tankers, a US unmanned drone being downed, and strikes on key Saudi oil facilities. Iran was blamed but denied involvement.
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| IRS Says Millionaires Can Keep Estate Tax Benefits After 2025 Posted: 22 Nov 2019 09:46 PM PST ![IRS Says Millionaires Can Keep Estate Tax Benefits After 2025]( "IRS Says Millionaires Can Keep Estate Tax Benefits After 2025") (Bloomberg) -- Taxpayers can benefit from higher thresholds for U.S. estate and gift taxes even if they don't die until after the tax overhaul expires in 2026, the Internal Revenue Service said.The 2017 Republican tax law approximately doubled the estate and gift tax exemption. That means individuals this year can pass on, tax-free, $11.4 million from their estate and gifts they gave before their death. Couples can pass on $22.8 million. The higher levels expire in 2026, but individuals who make large gifts while the exemption is higher and die after it goes back down won't see the estate tax benefit eroded, the IRS said in regulations announced Friday."As a result, individuals planning to make large gifts between 2018 and 2025 can do so without concern that they will lose the tax benefit of the higher exclusion level once it decreases after 2025," the agency said in a press release.The exemption increase was a priority for Republicans in the 2017 tax overhaul. It cut the number of individuals who would be subject to the 40% estate tax by about two-thirds. The exemption was $5.5 million before the law change.Democrats, however, are eyeing a reversal of those changes if they sweep the House, Senate and White House in 2020. Almost every Democratic presidential candidate has called for the estate tax to apply to a larger number of wealthy families.Senator Bernie Sanders has called for the estate tax to kick in on fortunes worth at least $3.5 million, and has proposed rates as high as 77%.To contact the reporter on this story: Laura Davison in Washington at ldavison4@bloomberg.netTo contact the editors responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net, Laurie Asséo, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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| A man in India dressed up as a pilot and used his disguise to skip lines and get free upgrades, police say Posted: 22 Nov 2019 06:47 PM PST  The police detained Rajan Mahbubani as he tried to board an AirAsia plane flying from Delhi to Kolkata. They say he impersonated a Lufthansa pilot.
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