Finance

Lois Lerner, who oversaw the Internal Revenue Service’s scrutiny of Tea Party groups, was looking for someone from every branch of government to help resolve the issue that eventually cost her job.

Policy makers on both sides of the partisan divide, from Treasury Secretary Jacob J. Lew to Mitt Romney’s economic adviser Glenn Hubbard, favor expanding the Earned Income Tax Credit. This rare harmony holds the potential to reshape the debate on bridging the growing opportunity gap.

House Ways and Means Committee Chairman Dave Camp, R-Mich., said that after months of discussions with the Internal Revenue Service on producing documents pertaining to the committee’s investigation of the IRS scrutiny of political groups and subsequent issuance of 501(c)(4) rulemaking, the IRS will turn over emails and documents from the former head of the IRS’s Exempt Organizations unit, Lois Lerner, to him.

Thousands of Credit Suisse Group AG’s U.S. clients still don’t know whether tax authorities will learn their identities as prosecutors work to conclude a three-year probe of how the bank helped them evade taxes.

There weren’t a lot of surprises in the President’s Budget, set at $3.9 trillion for fiscal year 2015, which was released on March 4.

House Speaker John Boehner said an IRS official should be held in contempt if she continues to refuse to testify on the agency’s scrutiny of Tea Party groups.

President Barack Obama is proposing more tax increases for U.S. multinational corporations, seeking ways to prevent them from avoiding taxes by exploiting gaps in international law.

President Obama released his budget plan on Tuesday, with proposals for expanding a number of tax breaks along with the budget of the Internal Revenue Service.

President Barack Obama’s budget will propose tax cuts for low-income families, a retirement savings plan and ask Congress to make permanent certain tax breaks to offset the cost of higher education.

The AICPA hosted a webinar on the provisions of T.D. 9655, final regulations that were issued on February 10 and implement employer shared responsibility provisions under the Affordable Care Act for 2015.

The tax reform proposal issued this week by House Ways and Means Committee chairman Dave Camp, R-Mich., is continuing to generate plenty of discussion.

If the tax reform proposal unveiled earlier this week by Ways and Means Committee chairman Dave Camp is really “dead on arrival,” as some have suggested, why has virtually every organization with a stake in the tax process made an effort to comment on it? After all, it’s just a discussion draft.

For a plan unlikely to become law anytime soon, Representative Dave Camp’s proposal to revamp the tax code is causing a lot of agitation among U.S. companies.

Americans who have been evading taxes through Swiss bank accounts are being advised by tax lawyers to come forward before the Justice Department steps up its own pursuit in response to Senate critics.

House Ways and Means Committee chairman Dave Camp, R-Mich., has released his long-awaited draft legislation on tax reform, to mixed reviews.

Credit Suisse Group AG helped American customers hide as much as $10 billion in assets from the Internal Revenue Service, more than double the amount previously known, according to a U.S. Senate committee report.

The American Institute of CPAs has sent a letter outlining a set of legislative proposals to the leaders of Congress’s two main tax committees, the House Ways and Means Committee and the Senate Finance Committee, recommending ways to simplify the tax laws and make them fairer.

A blue ribbon panel of public policy experts has released a set of recommendations to address the problem of underfunded public pensions.

House Ways and Means Committee chairman Dave Camp, R-Mich., sent a letter Monday to the Internal Revenue Service’s new commissioner, John Koskinen, demanding he turn over documents related to last year’s scandal involving IRS scrutiny of tax-exempt applications or else he would be forced to “compel them.”

Group-of-20 nations agreed to implement a global standard for automatically exchanging information between tax authorities by the end of 2015, the Organization for Economic Cooperation and Development said.