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Cosmo_Dragon
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Global Turmoil: From Tax Leaks to Xi's Purge, Leaders Face Fire

Treasury Department Cancels Contracts with Booz Allen Over Tax Leak

The Treasury Department canceled $21 million worth of contracts with consulting firm Booz Allen Hamilton after a contractor leaked confidential IRS information about wealthy taxpayers, according to NPR News. Treasury Secretary Scott Bessent canceled a total of 31 contracts with Booz Allen.

The decision followed the sentencing of a Booz Allen contractor to five years in prison in 2023 for leaking confidential IRS records, NPR reported. The leaked information revealed how some of the wealthiest Americans manage to pay little or no taxes.

Booz Allen Hamilton's stock fell more than 8% following the announcement, according to NPR.

The Treasury Department has not released further details on the specific contracts canceled or the reasons behind choosing these particular contracts.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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