Finance

President Obama signed into law Monday a bill that provides tax credits for hiring veterans and repeals a 3 percent tax withholding requirement on government contractors.

Internal Revenue Service Commissioner Doug Shulman told students that the Tax Code has grown far too complex in recent years.

The House Ways and Means Select Revenue Measures Subcommittee held a hearing to consider a move to a territorial corporate tax system that would tax only the income earned inside the U.S.

A group of millionaires visited the halls of Congress in an effort to convince lawmakers to raise tax rates on incomes of $1 million a year or more.

The House overwhelmingly passed legislation repealing the 3 percent withholding mandate on government contractors, along with a tax credit for hiring veterans.

The November 23 deadline for Congress’s deficit reduction “supercommittee” is only about a week away and effectively a few days less.

The House Ways and Means Oversight Subcommittee held a hearing to discuss the relative unpopularity of the Small Business Health Tax Credit that is part of the health care reform law.

The deficit reduction “supercommittee” in Congress appears increasingly unlikely to make any decisions on taxes before its impending deadline.

A new report from a Republican lawmaker details how, under the current Tax Code, the federal government is giving away billions of dollars to millionaires, subsidizing their lifestyles with taxes paid by the less well-to-do.

The Senate has approved a jobs bill that provides businesses with a tax credit for hiring unemployed veterans.

The Republican leader of the House Ways and Means Oversight Subcommittee plans to hold a hearing to probe the efficacy of the Small Business Health Care Tax Credit in the aftermath of a report that found a disappointing number of small businesses taking advantage of the tax break in the health care reform law.

A bipartisan group of 10 senators introduced legislation Wednesday that would give states the option to collect the sales taxes they are owed under current law from out-of-state businesses, rather than rely on consumers to pay those taxes to the states.

With only two weeks to go before a November 23 deadline, the congressional “supercommittee” of 12 that has been negotiating over cutting the budget deficit is now considering some far-reaching tax reform proposals.

The number of claims for the Small Business Health Care Tax Credit, which was included in the health care reform law as a way to help small businesses provide health insurance for their employees, has been much lower than anticipated, according to a new government report.

The unemployment rate dipped one-tenth of a percentage point to 9.0 percent as employers added 80,000 jobs in October, the U.S. Bureau of Labor Statistics reported Friday.

Commissioner Doug Shulman has presided over the continued reorganization and modernization of the Internal Revenue Service since March 2008.

The Senate failed to advance an infrastructure jobs bill Thursday that would have been paid for through higher taxes on millionaires.

A group of Democrats on the tax-writing House Ways and Means Committee has introduced a bill to extend federal unemployment insurance through 2012 and provide tax relief to employers in states with outstanding UI loans.

Many of you, I'm sure, have been reading that the U.S. Postal Service is on the precipice of default, struggling to avoid austerity measures in the face of its deficit, which, according to reports, will reach $9.2 billion this year.

President Barack Obama pressed for passage of his jobs bill, promising a boost in the economy in exchange for higher taxes on the wealthy.