Finance

President Obama signed into law on Monday a two-year budget deal that Congress approved last week to raise the debt limit and avert a default. To help pay for it, the bill includes a provision that will make it easier for the Internal Revenue Service to audit large partnerships, including hedge funds, private equity firms and even accounting firms.

A number of presidential candidates have proposed their tax policies, several of which were fleshed out by Republican candidates during Wednesday night’s debate.

Rep. Sam Johnson, R-Texas, has been named acting chairman of the House Ways and Means Committee, the main tax-writing committee in Congress.

Crowe Horwath LLP has issued a year-end tax-planning guide with information on income tax deductions, investments, retirement and estate planning and tax rates, along with what to do about the uncertain state of the tax extenders legislation in Congress.

Grant Thornton LLP offers 10 tax tips for the end of calendar year 2015.

Republican presidential candidates John Kasich and Rick Santorum have released their tax reform plans.

The Senate Finance Committee held a hearing on improper payments, including what role is played by tax preparers in claiming the Earned Income Tax Credit on behalf of clients.

Tax provisions that are likely to be passed – however late

Provisions that are likely to be passed – however late (slideshow version)

A group of Senate Democrats have unveiled a bill to provide more incentives for clean energy, including tax breaks.

Presidential candidate Sen. Bernie Sanders, I-Vt., along with Sen. Sherrod Brown, D-Ohio, and seven of their Democratic colleagues in the Senate, have introduced legislation to repeal a tax on so-called “Cadillac” health plans.

A new bipartisan effort to cancel Obamacare’s so-called Cadillac tax, the 40 percent levy on high-cost health insurance plans, adds a wrinkle to an impending fight in Congress.

President Barack Obama, seizing on a lifeline from Republican presidential candidates, is dusting off his campaign to end a tax break exploited by private-equity managers, venture capitalists and some hedge fund executives.

The tax-writing House Ways and Means Committee plans to hold votes Thursday on several Republican-sponsored bills that would make five temporary tax breaks into permanent parts of the Tax Code.

A group of Democratic lawmakers in Congress are urging the Treasury Department to crack down on corporations that use tax inversions to merge with foreign companies to lower their tax rates and publish a shame list of them.

Jeb Bush’s tax plan attempts to fuse disparate streams of Republican thinking on U.S. fiscal policy, moving beyond the base-broadening, rate-lowering mantra that has animated the party.

Get Thomas Rustici talking about the current state of U.S. economic policymaking, and the adjectives start flowing: Corrupt, worst, wasteful, bloated, dangerous.

The chairmen of Congress’s two main tax committees, House Ways and Means Committee chairman Paul Ryan, R-Wis., and Senate Finance Committee chairman Orrin Hatch, R-Utah, have written to Treasury Secretary Jacob Lew saying he should hold off on developing country-by-country reporting regulations for taxation of multinational corporations.

The Senate Appropriations Committee is proposing to increase the length of the Schedule EIC for claiming the Earned Income Tax Credit, requiring taxpayers to include much the same information on self-prepared returns that paid tax preparers are required to ask them on the EITC due diligence checklist.

Congress has passed a variety of tax provisions so far in 2015