Laura Davison

The White House plans to target a series of high-profile tax breaks worth tens of billions of dollars for wealthy investors and corporations.

The president is proposing a series of tax increases on billionaires, rich investors and corporations.

Rep. George Santos' first bill in Congress aims to boost the deduction from $10,000 to $50,000.

The former president papered the IRS with a deluge of Freedom of Information Act requests in search of a behind-the scenes look at its deliberations.

This year should be a better experience for taxpayers, with the IRS receiving additional funding, adding 5,000 customer service representatives, and reducing a large backlog of tax returns.

The House voted to repeal billions of dollars of Internal Revenue Service funding that Democrats approved last year, an issue that is likely to crop up repeatedly this year.

Rep. Jason Smith will lead the powerful House Ways and Means Committee.

The earliest the information would be released is Dec. 27.

The Internal Revenue Service would be legally mandated to annually audit the president and publish the results under legislation passed by the House.

Dozens of audit triggers litter Donald Trump's tax returns, according to Congress's top nonpartisan tax lawyers.

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.