New Limits on Trump’s I.R.S. Deal, and Prosecutors Say Reflecting Pool Work Was ‘Botched’

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  Betterment's Dan Egan talks about tax loss harvesting.

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  Tax loss harvesting is a tax management strategy.

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  When you have a position that's gone down over time, we intentionally sell out of it to realize a loss,

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  which we then say to the IRS, hey, we lost money.

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  You get to use that to offset your ordinary income every year, decreasing your tax burden.

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  From the New York Times, it's the headlines.

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  I'm Tracy Mumford.

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  Today's Monday, August 3rd.

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  Here's what we're covering.

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  Start two updates on the Trump administration.

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  Last night, Todd Blanche, the acting attorney general, confirmed in writing that the Justice Department

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  will abandon some elements of a highly controversial deal it reached with President Trump earlier this year.

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  The deal, which came out of a lawsuit Trump filed against the federal government

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  for a leak of his tax returns, included two elements, sweeping immunity from IRS audits

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