Donald Trump

The Trump administration’s $349 billion small-business rescue kicked off Friday surrounded by concerns about its ability to handle an expected flood of applications and deliver enough aid to mom-and-pop firms hit hardest by the coronavirus pandemic.

Some of the most contested pieces of the 2017 tax overhaul are being revisited as the White House and Congress begin to discuss another round of economic stimulus, including restoring the break for entertaining business clients and lifting the cap on state and local deductions.

One possible move is getting rid of the limit on state and local tax deductions, or SALT, that was part of the 2017 tax overhaul.

President Donald Trump said he wants to restore corporate tax deductions for business meals as restaurants reel from the impact of the coronavirus outbreak.

The payments are one of the central provisions of the $2 trillion stimulus package awaiting a Senate vote.

U.S. District Judge Trevor McFadden in Washington issued a stay on the tax case Friday — the second in two months — to wait for a full federal appeals court.

Tax forms and payments won’t be due to the Internal Revenue Service until July 15 this year, Treasury Secretary Steven Mnuchin said in a tweet, as the government looks for ways to respond to the coronavirus.

Treasury Secretary Steven Mnuchin tweeted Friday that President Trump has directed him to move Tax Day to July 15, giving taxpayers more time to file their taxes in the midst of the coronavirus pandemic.

The relief is only for income taxes, and doesn't change any filing deadlines.

The administration is also planning $1,000+ stimulus checks.

The U.S. Chamber of Commerce called Monday for a three-month cancellation of all payroll taxes paid by employers to address “a sudden and sharp drop in demand” facing businesses due to the coronavirus pandemic.

The president said he would allow individuals and businesses to “defer tax payments without interest or penalties” and he urged Congress to cut payroll taxes.

The president spoke to Republicans at their weekly conference lunch at the Capitol as his administration prepares a package of economic measures to combat the fallout from the coronavirus outbreak.

Key Democrats poured cold water on President Donald Trump’s proposal to include a payroll tax cut as part of his plan to respond to the coronavirus. Senior Republicans also held back from endorsing the suggestion ahead of a key lunch meeting on Tuesday.

The president will seek a payroll tax cut and “very substantial relief” for industries that have been hit by the virus, reversing course on the need for economic stimulus hours after markets posted their worst losses in more than a decade.

A federal judge rejected Roger Stone’s claim that he deserved a new trial because a biased Internal Revenue Service employee sat on the jury that convicted him of lying to help President Donald Trump.

President Donald Trump has put impeachment behind him, but he’s got another battle ahead with Democrats that’s been brewing for almost a year: access to his tax returns.

President Trump referred to the impact of the Tax Cuts and Jobs Act on job creation during his State of the Union address on Tuesday night.

Having just persuaded France to hold off on a digital tax that would hurt its biggest technology firms, the U.S. is facing a similar threat from another part of Europe.

Presidents Emmanuel Macron and Donald Trump agreed to a truce in their dispute over digital taxes that will mean neither France nor the U.S. will impose punitive tariffs this year.