Ron Wyden

New reports indicate 497 high-income taxpayers had over $150 million in their individual retirement accounts, and nearly 25,000 taxpayers had aggregate IRA account balances of $5 million or more.

The Internal Revenue Service’s Criminal Investigation division is cautioning taxpayers and tax professionals to beware of scams related to the expanded Child Tax Credit in which fraudsters are trying to steal money and personal information.

Accounting gimmicks may be needed to keep the federal government from defaulting.

The Senate Finance Committee chairman's legislation would streamline the 199A deduction for qualified business income, allowing accountants, lawyers, doctors and others to qualify, but phasing out above $400,000.

The bill would expand eligibility for the “pass-through” deduction to lawyers, accountants or doctors making above certain income thresholds.

A 25% tax credit is the latest carrot being proposed on Capitol Hill to encourage semiconductor companies to bolster U.S. production.

Republican and Democratic senators said they’re open to considering the first change in the national gasoline tax since 1993 to help fund a bipartisan infrastructure spending package.

Sen. Ron Wyden has questions about why the company consistently loses money in the U.S. and doesn’t pay more in taxes.

The legislation would overhaul the current menu of energy tax breaks, consolidating credits for renewable energy sources and offering incentives to any energy source that has no carbon emissions.

Sen. Ron Wyden proposes ending existing tax breaks for fossil fuels and creating new incentives for low-and-no carbon energy sources.