Finance

Thomson Reuters’ Checkpoint research service has released a special report on the recent tax extenders legislation that was approved last month by Congress, along with the new ABLE Accounts that provide a type of tax-advantaged savings program for disabled individuals.

The Internal Revenue Service and the Treasury Department have issued final regulations under the Affordable Care Act to protect patients in tax-exempt hospitals from aggressive debt collection practices and to provide other rules for charitable hospitals.

U.S. Representative Michael Grimm of New York, who pleaded guilty to a federal tax charge, said he plans to resign from the House.

U.S. Congressman Michael Grimm pleaded guilty to a federal tax charge, taking the possibility of prison time in stride as he told reporters after the proceeding that he won’t give up his House seat.

The Internal Revenue Service has issued a new publication to help taxpayers better understand how the Affordable Care Act affects their taxes.

The Treasury Inspector General for Tax Administration has released its Semiannual Report to Congress, with a special focus on how the Internal Revenue Service has handled its responsibilities under the Affordable Care Act.

The IRS is freezing hiring, stopping most overtime pay and warning that it won’t answer about half the calls it will receive during the upcoming tax-filing season.

The $1.1 trillion spending bill passed by Congress this week and signed into law by President Obama on Tuesday contains a provision directing the Treasury Department to implement uniform standards for taxpayers claiming refundable credits such as the Earned Income Tax Credit to stem improper payments.

Congress’s long-awaited passage of tax extenders legislation provides a short-term extension through only the end of this year of dozens of familiar tax breaks for businesses and individuals, along with a new savings program for the disabled.

Affordable Care Act-related tax issues await CPAs and those who prepare their own returns this upcoming tax season, according to the National Conference of CPA Practitioners.

In the waning days of the congressional term, a lawmaker has introduced legislation that would offer a reduced tax rate of 8.75 percent on corporate profits repatriated from abroad and use the money to pay for infrastructure improvements.

The surge in U.S. companies avoiding taxes by taking a foreign address has been condemned by President Barack Obama and stirred a policy debate in Congress. What’s often overlooked is that these “inversions” are typically a final step in a hopscotch of multinational tax dodging.

The U.S. House of Representatives rejected an $11 billion bill that would have provided tax incentives for charitable donations of food, money from retirement accounts and land-development rights.

Outgoing House Ways and Means Committee chairman Dave Camp, R-Mich., officially introduced Thursday the comprehensive tax reform package he has been laboring over in recent years.

Sen. Tom Coburn, R-Okla., has released a report highlighting billions of dollars in tax breaks for “special interests.”

The Republican and Democratic leaders of the House Ways and Means Committee have introduced bipartisan legislation to protect taxpayers against the inappropriate use of civil asset forfeitures by the Internal Revenue Service.

Lawmakers in Congress have included a fourth renewal on the ban on Internet access taxes as part of a spending deal to avert a government shutdown.

Congress has cut the Internal Revenue Service’s budget once again, reducing the tax agency’s fiscal year 2015 budget by 3 percent compared to this year’s funding level.

U.S. Senate Finance Committee Chairman Ron Wyden said he expects Congress to pass legislation that would permanently extend three lapsed tax breaks for charitable contributions.

U.S. states are taking advantage of an expanding economy to cut taxes by the most in 14 years while spending more on education and other programs, according to the National Association of State Budget Officers.