Steven Mnuchin

The Democrat has few other mechanisms to pursue the president's tax returns in the Republican-controlled Senate.

The Treasury Secretary said Wednesday that the administration has no plans to eliminate the preferential tax treatment of carried interest profits, three days after President Trump said he wanted to do just that.

Treasury Secretary Steven Mnuchin headed for another clash with Representative Maxine Waters as Democrats ratchet up pressure over his refusal to turn over President Donald Trump’s tax returns.

Democrats will likely turn to the courts, embarking on a lengthy battle that could help define Congress’ powers to oversee the executive branch.

Steven Mnuchin may face a deadline of 5 p.m. Friday to comply with a subpoena to hand over President Donald Trump’s tax returns, but the pressure is really on a top House Democrat who has to decide how ferociously to respond to the Treasury secretary’s all-but-certain refusal.

Treasury Secretary Steven Mnuchin indicated he would refuse a subpoena for President Donald Trump’s tax returns, saying that the dispute between Congress and the administration will likely end up in court.

The top Democrat on the Senate Finance Committee sent letters to the Treasury Secretary and IRS Commissioner requesting information on their refusal to provide the president’s tax returns and related documents.

House Democrats issued two subpoenas to compel Treasury Secretary Steven Mnuchin and IRS Commissioner Chuck Rettig to release President Donald Trump’s tax returns, House Ways and Means Chairman Richard Neal said.

President Donald Trump, who won the presidency in part on his image as a successful business mogul, lost $1.17 billion over 10 years on failed business deals, according to tax records obtained by the New York Times.

Treasury Secretary Steven Mnuchin refused to release President Donald Trump’s personal and business tax returns, setting up what could become one of the biggest legal showdowns between the president and a Congress seeking to investigate him.

The proposed regulations offer further details about a provision of the Tax Cuts and Jobs Act aimed at spurring real estate investment in needy communities.

Citing an “unambiguous legal obligation,” House Ways and Means Committee Chairman Richard Neal set the IRS a deadline of April 23 to hand over President Donald Trump’s tax returns before potentially resorting to other legal options.

The Treasury Secretary declined to meet a deadline to provide the president’s returns, asking for more time to study the legality of their request.

Treasury Secretary Steven Mnuchin said a request from House Democrats for President Donald Trump’s tax returns is under review and that "we will follow the law."

Democrats who were hoping the completion of the Mueller report would speed up the effort to request President Donald Trump’s tax returns may be disappointed.

The U.S. Treasury Department is again reducing penalties for taxpayers who didn’t pay enough of their tax bill throughout the year.

The Treasury Department and the Internal Revenue Service are lowering the withholding underpayment threshold to 80 percent.

Getting a tax refund is a springtime tradition that Americans love as much as Easter candy.

The IRS has sent out 3.3 percent fewer tax refunds so far this year, but the average refund size continues to track with prior years, according to IRS data released Thursday.

The Treasury Department finalized the repeal Thursday of 296 obsolete or duplicative tax regulations in response to President Trump’s executive orders.