Finance

Trade groups representing the banking, credit union and financial services industry are sounding the alarm over a provision in a bill already passed by the Senate that would require them to report information to the Internal Revenue Service on both interest-bearing and non-interest-bearing accounts.

The House Judiciary Committee, through its Subcommittee on Regulatory Reform, Commercial and Antitrust Law, held a hearing Tuesday on nexus issues involving three bills before the Committee.

Sen. John Cornyn, R-Texas, and Rep. Sam Johnson, R-Texas, have re-introduced a bill aimed at preventing fraud in the provision of Individual Taxpayer Identification Numbers to undocumented immigrants.

The House of Representatives voted to revive the tax credit for corporate research and make it a permanent feature of U.S. law.

A bipartisan group of lawmakers has introduced legislation in the House that would make the current adoption tax credit fully refundable.

Any major changes to private equity’s most favored tax break won’t happen until 2017, House Ways and Means Committee Chairman Paul Ryan said.

House Ways and Means Committee chairman Paul Ryan, R-Wis., explained his tax reform plans Tuesday during a speech before the American Institute of CPAs at the AICPA’s Spring Meeting of Council in Washington, D.C.

Lawmakers have introduced legislation that would provide a month-long safe harbor from income tax and withholding requirements for traveling employees and their employers.

The head of a Senate investigative subcommittee said he plans to look into problems with the health insurance marketplaces set up for the Affordable Care Act that forced many taxpayers to owe some of the tax credit money they had received for buying health insurance.

The “job creators” are fighting back on tax policy—against their Republican allies.

One of the Democratic Party’s favorite applause lines is getting another turn in the spotlight: hit hedge-fund millionaires with the same taxes as the working class.

Lawmakers in the House and Senate have re-introduced legislation to encourage the creation of employee stock ownership plans in S Corporations.

Companies with non-U.S. earnings parked overseas should start contemplating what they will do with the money if tax repatriation legislation is passed.

More Americans living outside the U.S. gave up their citizenship in the first quarter of 2015 than ever before, according to data released Thursday by the IRS.

A pair of senators introduced legislation Monday to expand access to tax-exempt bonds and federal tax credits to provide more money to state and local governments to spend on fixing the nation’s aging infrastructure.

Leaders of the Senate Finance Committee are being inundated with suggestions for tax reform, despite the limited prospects for comprehensive reform ahead of next year’s elections.

The AICPA identified eight issues it believes are essential for Congress to consider in order to achieve small business tax reform in written testimony submitted last week to the House Small Business Committee for the record of the hearing the committee held on April 15, 2015 entitled, “Tax Reform: Ensuring that Main Street Isn’t Left Behind.”

House Speaker John Boehner said a long-sought overhaul of U.S. corporate tax law has barely an even chance of being enacted by Congress this year, though both chambers are under Republican control.

Rep. Bonnie Watson Coleman, D-N.J., has introduced legislation that would provide relief to low-income and economically vulnerable Americans who would otherwise be subject to wage garnishments by the Internal Revenue Service.

To mark Earth Day, Congressman John K. Delaney, D-Md., said he plans to introduce legislation later this spring to tax greenhouse gas emissions in response to climate change concerns.