Treasury Department

Long-awaited proposed guidance gives details on the new tax credits for electric vehicles under the Inflation Reduction Act.

The West Virginia senator ramped up criticism over an upcoming interpretation of content rules for electric vehicle tax credits, which he suspects will be too broad and generous to foreign suppliers.

The auto world will know by Friday where the Biden administration stands on some of the toughest policy questions surrounding the U.S. transition to electric vehicles.

"Our budget request provides steady-state operational funding," Yellen said. "It will complement the one-time, long-term investment in the IRS."

The proposed regs cover the advanced manufacturing credit in the CHIPS Act of 2022 to spur development of the U.S. semiconductor industry.

The service issued preliminary guidance and intends to issue more detailed guidance soon on the tax treatment of nonfungible tokens.

The organization is making plans for easing multinational companies and government tax authorities into its Pillar Two requirements.

The department detailed the tax provisions in the Biden administration's newly released budget plans for fiscal year 2024 on Thursday.

Crypto miners and staking-service providers may learn in the days if they have to report information on their clients' transactions.

Final regulations issued Tuesday require companies to begin electronically filing certain kinds of returns and documents next year.

The notice contains interim guidance for insurance companies ahead of proposed regulations on the 15% minimum tax under the Inflation Reduction Act.

The Biden administration will allow more crossover SUVs to qualify for the newly-revamped electric vehicle tax credit following lobbying by automakers such as General Motors Co. and Stellantis NV.

The West Virginia senator said the administration has "cherry picked" which of the new rules for electric vehicle tax breaks it wants to follow.

The Internal Revenue Service audits Black taxpayers at 2.9 to 4.7 times the rate of non-Black taxpayers, according to a new study.

GM is pushing the Treasury to change the definition of a sport utility vehicle and expand how many buyers can get electric-vehicle tax credits.

The Biden administration is privately warning about Republican efforts to cut the Internal Revenue Service's budget.

There's a catch buried in the law: Projects that don't meet certain new wage and labor requirements only get a fraction of the credit.

The U.S. government has angered Tesla's Elon Musk and handed welcome news to other automakers like Hyundai with guidance on which electric vehicles will qualify for tax credits in the coming months.

The revenue-raising provision of the Tax Cuts and Jobs Act took effect despite efforts to extend the tax break.

The Internal Revenue Service and the Treasury are giving investment brokers more time to report information on transactions involving digital assets such as cryptocurrency.