Treasury Department

The Treasury Department has issued a notice proposing to rescind or modify eight tax regulations under President Trump’s executive order aimed at reducing burdensome regulations.

The American Institute of CPAs has written a letter to the Internal Revenue Service and the Treasury Department asking them to postpone the effective date of the centralized partnership audit regime for one year until the end of 2018.

President Donald Trump won’t veto a tax bill even if it provides the wealthiest Americans with a tax cut, according to Treasury Secretary Steven Mnuchin.

U.S. tax revenue is running as much as $70 billion behind estimates more than halfway through the fiscal year, leaving the government with less cash than planned and adding to pressure on Congress to raise the debt ceiling.

Trump's budget aims to cut approximately $3.6 trillion in spending, in part from eligibility changes for the Earned Income Tax Credit and Child Tax Credit.

President Trump has nominated David Kautter, partner-in-charge of the Washington National Tax practice of RSM US, as Assistant Secretary of the Treasury for Tax Policy.

Sen. Chuck Grassley, R-Iowa, and a group of 14 other senators from both parties are asking the Internal Revenue Service and the Treasury Department to clarify their rules to enable more lenders to refinance student loans.

The president is directing the Treasury to review regs to see if they’re too burdensome.

The Internal Revenue Service has released a revenue procedure that provides guidance on several aspects of the Protecting Americans from Tax Hikes Act of 2015, including the expensing of section 179 property, the additional first-year depreciation deduction, and the qualified Indian reservation property depreciation provision.

The Internal Revenue Service is proposing procedures for how a taxpayer can ask for automatic consent to change an accounting method in preparation for the Financial Accounting Standards Board’s new revenue recognition standard.

The IRS is still seeking other candidates for the advisory committee.

Strategic decisions should be considered that make it important to understand the regulations and their impact.

The American Institute of CPAs is asking the Internal Revenue Service and the Treasury Department to develop a new income tax form to improve S corporation shareholder compliance with basis rules.

Lawmakers are questioning the Secretary of State about his agreement with the energy giant where he was formerly chairman and CEO.

The former bank executive will fill the role of chief spokesman for the dollar and steward for the Trump administration’s economic priorities.

Legislation aimed at preventing fraud could cost the economy as much as $21 billion this month.

The Treasury Department is partnering with TaxAct, TaxSlayer and Intuit’s TurboTax to encourage tax filers to open retirement savings plans.