Biden Administration

If the program ultimately moves forward, tax professionals should know about the rules when advising their clients.

Senator Joe Manchin is pressing Treasury Secretary Janet Yellen to stand firm on North American-based manufacturing requirements for lucrative electric-vehicle tax credits.

On taxes, the fate of research and development and private equity tax breaks remain mired in a dispute over expanding the child tax credit.

Democratic senators are set to propose a bill that would force U.S. oil companies to pay more tax at a time when they're raking in record profits.

Officials discussed IRA provisions including tax credits for both commercial and electric vehicles, critical raw materials and the supply chain.

For businesses, the return of Republicans to control of the House takes the possibility of corporate tax increases favored by Democrats off the table.

Republicans — who are expected to control the House as of January — want tax breaks for private equity, manufacturers and businesses. For their part, Democrats want to expand the child tax credit.

Businesses are lobbying hard for Congress to pass a package of tax breaks worth about $100 billion before the end of the year.

For some borrowers, the impact of the White House's student-debt forgiveness program may be influenced by the interpretation and implementation of tax law.

The clock is running out on the administration's efforts to tame fuel prices ahead of midterm elections.

U.S. gasoline prices are still high a week ahead of midterm elections.

Treasury Secretary Janet Yellen is throwing cold water on expectations that the agency will provide relief to foreign automakers lobbying against stringent limits on a popular electric-vehicle tax credit.

Hyundai Motor Co. and the South Korean government are ratcheting up lobbying to loosen restrictions that Senator Joe Manchin fought to include in this year's U.S. climate law.

The Treasury Department and the Internal Revenue Service issued final regulations to eliminate a so-called "family glitch" in qualifying for premium tax credits.

The 15% minimum tax in the legislation passed by Congress shouldn't be confused with the one that the Treasury has been encouraging countries to approve.

The desire to use free cash to buy back shares appears to be stronger than any deterrent created by the tax.

The Biden administration is alarmed over the market turmoil triggered by the new U.K. government's economic program.

Congressional Democrats are urging the Treasury Department to ignore appeals by lobbyists to weaken the 15% minimum levy on domestic corporations.

Business Roundtable Chief Executive Officer Joshua Bolten on Wednesday flagged concerns that reviving the deduction for R&D will fall off of Congress's agenda later this year, despite it having bipartisan support.

The president is likely to nominate Beth Kaufman, a partner at the law firm Caplin & Drysdale, to be IRS chief counsel.