Laura Davison

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.