Finance

Among the issues that are keeping tax executives up at night are anti-inversion rules that don’t address the root cause: an anti-competitive U.S. tax system.

Senior business leaders are concerned about some of the proposed tax changes they have heard from presidential candidates and other sources, according to a new survey by Friedman LLP.

While it has been around in a variety of forms since 1993, the exclusion for Qualified Small Business Stock Gains under section 1202 of the Tax Code didn’t really come into its own as a tax benefit until the exclusion rate increased to 100 percent in 2010.

The House Ways and Means Oversight Subcommittee is calling on the Internal Revenue Service, the Treasury Department and the Justice Department to return funds wrongly seized from taxpayers during civil asset forfeitures.

The National Retail Federation is urging Congress to reject any form of consumption tax as it considers a variety of tax reform proposals in a hearing Tuesday.

The number of presidential candidates has been steadily winnowing down in recent weeks as they suffer defeats in the primaries and caucuses, and so too their tax plans have been falling by the wayside.

In a media blitz last October, the billionaire investor Carl Icahn pledged to create a $150 million political organization to muscle an overhaul of the corporate tax code through a gridlocked Congress.

The House Ways and Means Committee passed a package of three bills Wednesday designed to save money for the federal government, including one that requires taxpayers claiming the Child Tax Credit to provide a Social Security number for the child to prevent undocumented immigrants from qualifying.

U.S. business leaders are keeping a close eye during primary season on the candidates’ tax reform plans, according to a new survey of private companies by PricewaterhouseCoopers.

The Internal Revenue Service will be making some changes in the due dates next year for several types of business tax returns, which should give accountants a little extra breathing room.

A pair of lawmakers on the tax-writing House Ways and Means Committee have introduced bipartisan legislation to provide a tax credit for caregiving expenses.

Despite government disapproval, corporate inversions still have fans

Senator Ted Cruz and his wife, Heidi, paid $1.5 million in federal income taxes from 2011 through 2014 on adjusted gross income totaling more than $5 million, according to partial tax returns released in e-mails to reporters by the Republican presidential candidate’s campaign Saturday.

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.