Finance

Florida Senator Marco Rubio and his wife, Jeanette, reported $2.3 million in income over the past five years and paid $526,092 in federal income taxes, according to tax documents released by the presidential candidate’s campaign Saturday.

What’s new for 2015 tax returns?

A pair of Democrats in the House have introduced legislation to reduce the number of corporate tax inversions by clamping down on the strategy of earnings stripping.

Presidential candidate Ted Cruz’s tax proposals, which include cutting taxes for most individuals and replacing the corporate income tax with a flat 16 percent business tax, would reduce federal revenue by $8.6 trillion over a decade and “almost surely depress the economy over the long run,” according to a policy study and its authors.

The recently appointed chairman of the tax-writing House Ways and Means Committee, Kevin Brady, R-Texas, described some of his tax reform priorities in a speech Friday.

The Senate has included a permanent ban on taxes for Internet service within a larger trade enforcement bill that was passed Thursday.

An influential senator is asking the Internal Revenue Service to put a system in place to track the specific sources of unpaid corporate taxes.

Ernst & Young has released the results of its latest survey with the Tax Council of tax executives and tax practitioners about their predictions for tax reform.

The Obama administration released its fiscal year 2017 budget containing a number of tax increases on high-income taxpayers, oil and foreign income, along with tax breaks for the middle class and small businesses, plus a provision giving the Treasury Department the explicit authority to regulate all paid tax preparers.

President Barack Obama defended his proposal to levy a new $10-per-barrel tax on oil, arguing that low gasoline prices afford the U.S. an opportunity to finance dramatic improvements in its transportation systems.

Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, along with a group of other Senate Democrats, have introduced legislation to make the Saver's Credit into a refundable tax credit to help more working families and middle-class Americans save for retirement.

Modified extenders may require revised planning to maximize benefits.

A radical revamping of the partnership audit rules will impact every partnership and LLC taxed as a partnership, starting in 2018.

Most of the proposals that Hillary Clinton and Bernie Sanders have pitched for taxing the rich won’t go anywhere if Republicans keep control of the House of Representatives, as expected.

While the passage of this season’s extenders bill was widely anticipated before the end of 2015, it nevertheless contained some surprises for many observers.

A large number of important tax changes go into effect for partnerships this year, along with due dates for business tax returns.

Tax reform is on the horizon, but the horizon likely extends beyond 2016, according to Marc Gerson, tax partner at Miller & Chevalier and former majority tax counsel to the House Ways and Means Committee.

Perhaps the only consensus in U.S. politics is that the Byzantine and loophole-riddled corporate tax code needs reform.

A large number of important tax changes go into effect this year for businesses.

Bloomberg BNA is releasing its annual report on the year ahead in tax and accounting, containing a collection of over 20 articles from its reporters on the outlook for tax legislation, international taxation, state taxes, Supreme Court tax cases, accounting standards and other topics.