
Laura Davison
Capitol Hill tax reporterLaura Davison is a Capitol Hill tax reporter at Bloomberg News
Laura Davison is a Capitol Hill tax reporter at Bloomberg News
Filing taxes last year was a nightmare for taxpayers, their accountants and the Internal Revenue Service. This year might not be much better.
House Democrats’ lawsuit seeking President Donald Trump’s federal tax returns was put on hold as a judge said he’s waiting for a higher court’s ruling in a separate case on whether Congress can make ex-White House counsel Don McGahn testify.
The White House continues to work on a tax-cut plan in hope that Republican lawmakers will be in control of Congress after the 2020 elections, President Donald Trump’s top economic aide Larry Kudlow said.
Consumers in 2019 were more likely to say plans to hike taxes on the wealthy would harm economic growth than they were in prior years, despite it being a key campaign pledge for nearly every Democratic presidential candidate, according to a new University of Michigan survey.
The average U.S. household is paying an annual surtax of more than $3,000 to subsidize taxpayers who aren’t paying all they owe, a new report from the Taxpayer Advocate Service found.
France and the U.S. will seek a compromise on the taxation of digital services over the next two weeks in an effort to avoid an escalation in the transatlantic trade dispute.
Congressional spending bills are expected to permanently repeal the “Cadillac tax” and other taxes funding the Affordable Care Act, raise the tobacco purchasing age to 21, and extend the U.S. Export-Import Bank for seven years, according to a senior House Democratic aide familiar with the talks.
U.S. lawmakers led by Senate Finance Committee Chairman Charles Grassley are negotiating a potential revival of expired tax breaks in last-minute negotiations over a government spending bill.
Legislation that would provide big deductions for taxpayers with high state and local tax bills is gathering momentum in the House this week, but it’s headed into a brick wall in the Senate.
House Democrats are making a last-ditch bid to reverse the $10,000 cap on state and local tax deductions before year’s end. But they’ll likely need to renew their efforts in 2020 — or beyond — because the legislation has no chance of becoming law this year.