Treasury Department

The plan would require financial institutions to report information about some bank accounts to the IRS.

The measure could be used to pay for a modification of the cap on the federal deduction of state and local taxes.

Janet Yellen has one of the biggest to-do lists in Washington: usher in a global tax overhaul, press Wall Street on climate change and distribute billions of dollars in COVID relief.

A new government report says more funding for the IRS is the solution to the tax gap.

Congress is weighing a proposal to end the tax break next month to pay for the bipartisan infrastructure plan.

The Justice Department directed the Treasury Department to hand over former President Donald Trump’s tax returns to Congress, a move that means six years of Trump’s personal and business financial information could become public.

Employers can claim tax credits equivalent to the wages paid for providing paid time-off to employees to take a family or household member or certain other individuals to get vaccinated for COVID-19.

Former Treasury officials say both parties should agree to increase money for the agency.

The IRS and the Treasury started disbursing advance monthly payments Thursday of the expanded Child Tax Credit in a program that aims to lift millions of families out of poverty.

The guidance gives renewable energy companies more time to develop projects that were delayed by COVID-19.

The Internal Revenue Service and the Treasury Department introduced an online tool that enables families to register for monthly payments of the expanded Child Tax Credit.

A GAO report finds that the regulations were burdensome for multinational companies, even though they saved through lower tax rates.

President Joe Biden’s pick to lead the Treasury Department’s tax policy efforts pledged to work with lawmakers on a bipartisan basis and be a strong advocate for the Internal Revenue Service.

Treasury Secretary Janet Yellen’s team has proposed a 15% global minimum corporate tax in international negotiations aimed at ending competition to lure companies through cheap rates, which then end up eroding government revenues.

The U.S. Treasury Department estimated that wealthy taxpayers as a group are hiding billions of dollars of income, a conclusion that aims to bolster the Biden administration’s call for Congress to approve expanded IRS funding and broad new financial-transaction reporting requirements.

The Biden administration is also calling for banks to report on account flows to help boost tax-payment compliance.

Regulating preparers, modernizing old tech and beefing up cryptocurrency reporting would yield $700 billion, according to a new report.

The dilemma represents another challenge with the special legislative process known as budget reconciliation.

Business groups were unmoved by the Treasury Secretary’s call for U.S. companies to accept higher taxes in return for a huge public investment in infrastructure aimed at boosting the American economy.

The Institute wants help for businesses facing foreign trade obstacles to maintaining inventory during the pandemic.