Treasury Department

Many of the biggest beneficiaries of President Donald Trump’s tax overhaul haven’t even been born yet.

This handful of changes from the Tax Cuts and Jobs Act may call for more guidance from the Treasury.

The Internal Revenue Service and the Treasury Department are asking the public to recommend items that should be included on their 2018-2019 Priority Guidance Plan, with the expectation that the new tax law will be at the top of the list.

The Internal Revenue Service said it would give U.S. taxpayers an extra day to file their returns electronically after a computer malfunction disrupted the agency’s website.

The Internal Revenue Service and the Treasury Department say the Tax Cuts and Jobs Act will require hiring the equivalent of 1,734 full-time employees over the next two years.

White House OMB head Mick Mulvaney will be able to weigh in as the Internal Revenue Service clarifies dozens of the new tax law’s provisions.

The Internal Revenue Service knocked down one way for hedge fund managers to dodge restrictions in President Donald Trump’s tax law. But for some managers, there’s still a way out.

The institute is asking for immediate info about the disallowance of some popular write-offs.

The Internal Revenue Service and the Treasury Department have issued details about the withholding on the transfer of non-publicly traded partnership interests by foreign persons under the Tax Cuts and Jobs Act, along with guidance on the “transition tax” on the untaxed earnings of overseas subsidiaries of U.S. companies.

The European Union published proposals Wednesday for a 3 percent Digital Turnover Tax on the European B2B revenues of digital giants such as Google, Apple, Facebook, Amazon (termed GAFA in Europe), Uber and Airbnb.

The Treasury Department issued a strongly worded statement in response to a report from the Organization for Economic Cooperation and Development.

The Treasury recorded a $215 billion shortfall in February—its largest in six years—as revenue declined after passage of the Tax Cuts and Jobs Act.

The National Society of Accountants wants the Internal Revenue Service to provide a six-month extension for businesses to opt to be treated as S corporations for this year, arguing the current deadline of March 15 is too soon to make a decision given the uncertainty surrounding the new tax law.

Treasury Secretary Steven Mnuchin’s plan to fix a gaping loophole for hedge funds in President Donald Trump’s new tax law could face legal challenges.

The Internal Revenue Service’s announcement that it plans to issue regulations clarifying the limitations on carried interest aims to head off a flurry of activity aimed at getting around a provision of the Tax Cuts and Jobs Act.

The U.S. Department of Treasury and the Internal Revenue Service issued guidance seeking to close a loophole that hedge-fund managers had been trying to exploit to avoid paying higher taxes on carried-interest profits.

The American Institute of CPAs is sending an urgent request to the Internal Revenue Service and the Treasury Department, asking for “immediate guidance” on the definition of the term “qualified business income” for pass-through entities under the new tax law.

The Treasury Department has proposed to repeal nearly 300 tax regulations, many of which have become obsolete with the passage of the new tax law and earlier legislation, in some cases dating back to 1942.

Treasury Secretary Steven Mnuchin said the Internal Revenue Service will issue guidance within the next two weeks to prevent hedge-fund managers from dodging new tax rules on carried-interest profits.

The Internal Revenue Service and the Treasury Department announced changes Tuesday in the procedures for changing the accounting period of foreign corporations owned by U.S. shareholders subject to the transition tax under the Tax Cuts and Jobs Act.