Finance

A pair of Republican lawmakers on the House Ways and Means Committee plan to formally request an IRS investigation of the AARP’s tax-exempt status, accusing the group of profiting from its health insurance business.

The House Ways and Means Committee has passed a bill that would limit tax breaks for health insurance policies that cover abortions.

The Senate Finance Committee held a hearing Wednesday on the effectiveness of various tax incentives.

State and local governments saw their tax collections rise in the fourth quarter, according to new data from the U.S. Census Bureau.

The Financial Planning Coalition has called on Congress to support the Securities and Exchange Commission in establishing a fiduciary standard of care for broker-dealers.

General Electric is a company that has long been known for innovation going back to the days of founder Thomas Alva Edison, but now some of its greatest innovations may be in the way it avoids paying corporate income taxes.

A high-ranking Treasury Department official has come out against calls by some multinational corporations for a tax holiday on earnings repatriated from abroad.

The Congressional Budget Office has released a report on taxing the number of miles traveled by vehicles to help fund the highway system, as an alternative to raising fuel taxes.

The U.S. Small Business Administration has proposed to adjust the size definition of small businesses in professional, scientific, and technical sectors, and other service sectors, to expand eligibility for small business programs.

Sen. Claire McCaskill, D-Mo., said she would pay $287,273 in property taxes owed on a private plane that she and her husband co-own.

Sen. Bill Nelson, D-Fla., is pressing the Internal Revenue Service to do more to curb tax fraud by prison inmates, especially in his state, where the problem is the most prevalent.

Rep. Jan Schakowsky, D-Ill., has introduced a bill that would levy taxes of 45 to 49 percent on millionaires and billionaires.

It’s comforting to know that tax reform is proceeding apace on several different fronts.

House Ways and Means Committee Chairman Dave Camp, R-Mich., has proposed reducing the top individual and corporate tax rate to 25 percent.

The House Ways and Means Subcommittee on Select Revenue Measures held a hearing Wednesday on the tax implications of a proposed bill aimed at preventing taxpayer money from being used to fund abortions.

A Tennessee congressman has introduced a bill that would allow the Internal Revenue Service to prepare taxes for a taxpayer.

State budget deficits are prompting governors to slash spending, but also shift the tax burden away from corporations.

While the IRS has made progress in correcting some of its previously discovered information security weaknesses, control weaknesses over key financial and tax processing systems continue to jeopardize the confidentiality, integrity, and availability of financial and sensitive taxpayer information, according to a new report from the Government Accountability Office.

The Joint Committee on Taxation, which operates under the auspices of the tax-writing committees of the Senate and the House, has been given the task of conducting specific research that will help advance the ability of Congress to enact comprehensive tax reform.

Internal Revenue Service contractors received more than $356 million in payments from the IRS in 2009 despite owing a combined $3.8 million in back taxes, according to a new government report.