Biden Administration

The Biden administration and G-20 leaders are agreeing on the need for more revenue.

Roughly 4 million or more households are likely to fail to get the funds because they don’t appear on a prior tax return.

Democrats are also uniting behind a plan to muscle through a broader budget resolution to carry the party’s priorities.

The agreement marks a significant breakthrough in the drive to muscle through Congress a massive infusion of new spending for roads, bridges and other critical projects.

The negotiations have blown past several deadlines despite persistent expressions of optimism from lawmakers in both parties that they were close to an agreement.

Finishing a bipartisan plan is pivotal to getting all Democrats on board with a budget outline setting up a $3.5 trillion package.

U.S. lawmakers are wary of passing any legislation until they have strong assurances that other countries will also change their laws.

So far, the Speaker of the House has been relegated to the sidelines in the stalled Senate debate over a $3.5 trillion budget blueprint.

The Senate Majority Leader will take a preliminary step Monday that would lead to a first test vote on the infrastructure plan by Wednesday. He set the same day as a deadline for all Senate Democrats to unite behind a budget blueprint.

The increased funding for the IRS as a way to boost tax revenue was dropped after it emerged that Democrats intend to include the measure in their bigger budget bill.

The IRS and the Treasury started disbursing advance monthly payments Thursday of the expanded Child Tax Credit in a program that aims to lift millions of families out of poverty.

President Joe Biden urged Senate Democrats to act boldly on his sweeping social and economic agenda Wednesday, as they began hashing out details of an $3.5 trillion tax and spending agreement that marks a crucial step forward for his plan.

Senate Democrats are moving to impose tariffs on carbon-intensive imports as a way to help pay for their tax-and-spending legislation, according to one person familiar with the plan.

Senate Democrats on the Budget Committee agreed to set a $3.5 trillion top-line spending level for a bill to carry most of President Joe Biden’s economic agenda into law without Republican support, bridging divisions — for now — among some party factions.

National tax offices were flooded with more than 500 inquiries a day from their field offices after the 2017 tax law, and a confused response cost some accounting firms clients. What lessons can be learned?

Trusts aren’t just for the .01%, as some advisors sell mass affluent and high-net-worth clients on their tax benefits.

Lawmakers remain divided on the size and scope of the fast-track budget reconciliation bill intended to include a raft of social spending and tax increases.

The Treasury secretary said U.S. companies are likely to provide crucial support in pushing lawmakers to back a global overhaul of corporate taxation.

The administration is aiming at trusts — particularly dynasty trusts, vehicles that wealthy families can use to benefit multiple generations of descendants.

The private equity industry is trying defend a cherished tax break that Democrats have targeted for elimination.