Biden Administration

President Joe Biden will propose increasing the minimum rates paid by major corporations to 21% and eliminating breaks for companies with high-paid executives Thursday night.

The president will advocate plans to increase taxes on the wealthy and corporations as well as to lower prescription drug prices in his speech next week.

Parts of Trump's 2017 tax-cut package will expire in 2025, and Biden would only extend tax breaks for individuals earning less than $400,000 a year.

The rule on classifying workers as either employees or independent contractors reverses a change from the Trump administration.

The debt ceiling agreement included a side deal that would allow $70 billion in accounting moves to spare agencies most cuts, though $20 billion in cuts to IRS funds may be accelerated.

Under the draft proposal from the Treasury Department, hydrogen projects would need to adhere to strict environmental requirements.

Proposed rules from the Treasury and IRS raise worries that they may stifle the nascent fuel.

Proposed rules from the Treasury and the IRS would mean nuclear power producers can't tap into credit for producing clean hydrogen.

The White House is taking aim at global money laundering in line with a UN effort, but some sectors of the economy are falling prey to criminal activity.

The guidelines set a 25% ownership threshold for a company or group to be classified as a foreign entity of concern.

The Biden administration has discussed granting automakers a temporary reprieve from new rules poised to limit a consumer tax credit, a Michigan senator said Tuesday.

Senate Majority Leader Chuck Schumer vowed the Senate won't vote on the House bill and instead will produce a broader emergency package without cuts to the IRS.

House Republicans would paid for aid to Israel by slashing funds for the Internal Revenue Service.

Johnson's plan pays for Israel aid by cutting President Joe Biden's signature Inflation Reduction Act, calling for a $14.3 billion reduction in funding for the IRS.

The Council of Economic Advisers said a reduction in revenues from capital gains taxes has played a notable role in the widening deficit.

More than 3 million workers would be newly eligible for overtime when they work more than 40 hours a week, under a new proposal.

Corn farmers and biofuel producers are poised to gain from turning ethanol into sustainable jet fuel — depending on how Washington writes the tax policy.

Confusion around ever-changing rules, price-sensitivity and other factors have dampened the results of the Inflation Reduction Act's incentives.

The cost of the IRA's uncapped tax credits and incentives is almost impossible to pin down.

The administration could phase in some requirements in a bid to nurture a nascent industry critical to decarbonizing industrial operations.