Laura Davison

The move caps a three-year legal saga initiated by Democrats to obtain and release the former president's closely held financial documents.

Republicans — who are expected to control the House as of January — want tax breaks for private equity, manufacturers and businesses. For their part, Democrats want to expand the child tax credit.

Estate tax collections in 2021 hit their highest levels since former President Donald Trump's tax cuts took hold, a stark trend reversal that experts attribute to one-off pandemic factors.

Grand tax cuts have long been a centerpiece of Republican economic orthodoxy, appealing to the well-to-do who want to keep more of their income and stock-market gains. There's one problem, economists say.

The three lawmakers vying to chair the powerful Ways and Means Committee — Vern Buchanan of Florida, Jason Smith of Missouri and Adrian Smith of Nebraska — embody the ideological tension within the Republican Party.

Eric Adams released his 2021 tax returns on Friday, six months after he pledged to provide the public with the information.

The desire to use free cash to buy back shares appears to be stronger than any deterrent created by the tax.

Congressional Democrats are urging the Treasury Department to ignore appeals by lobbyists to weaken the 15% minimum levy on domestic corporations.

Business Roundtable Chief Executive Officer Joshua Bolten on Wednesday flagged concerns that reviving the deduction for R&D will fall off of Congress's agenda later this year, despite it having bipartisan support.

The president is likely to nominate Beth Kaufman, a partner at the law firm Caplin & Drysdale, to be IRS chief counsel.

The introduction of a minimum tax will affect a type of divestiture that up to now has gone untaxed.

The president is narrowing the list of candidates to lead the Internal Revenue Service ahead of a massive expansion of tax enforcement.

Residents of New York, Virginia and 11 other states could end up with a surprise tax hit of hundreds of dollars next year on forgiven student loans.

The tax agency will automatically issue the refunds or credits for most of the fees by the end of September.

The agency has become a target of GOP lawmakers in recent weeks after President Biden signed a new spending law with funding for tax enforcement, technology upgrades and taxpayer service.

The strategic plan will provide a roadmap for what has been the largest dedicated funding stream provided to the IRS in decades.

Dozens of congressional Republicans and Democrats made the demands in a letter to the Internal Revenue Service.

About $222.2 billion of the increase on businesses will come from a new corporate minimum tax that requires companies with at least $1 billion in profits to pay a minimum of 15%.

The U.S. Court of Appeals for the District of Columbia Circuit rejected Trump's appeal of a lower court's ruling.

House Democrats who had threatened to block President Biden's tax and climate plan unless it also expanded the deduction for state and local taxes are signaling they'll back the legislation.