Biden Administration

The corporate tax-cut party President Donald Trump kicked off will soon be over if his successor proves able to enact proposals to roll back half of the 2017 domestic income-tax reduction and to radically revamp levies on profits earned abroad.

President Joe Biden laid out what he called a “bold” plan to rebuild U.S. infrastructure, but now needs an equally ambitious effort to wrangle it through Congress in the face of Republican opposition and criticism from within his Democratic Party.

The infrastructure plan sets the stage for a drawn-out battle over his second big economic program.

President Joe Biden is calling for sweeping investment in electric vehicles, renewable power and the electric grid as part of a broad blueprint to bolster the U.S. economy while combating climate change.

Advisors are urging clients to make tax-planning moves this year to preserve the preferential capital gains rate and turbocharge business deductions.

More than a half century after Lyndon Johnson’s war on poverty, the new administration plans a mass expansion of government spending and a revamp of the Tax Code.

The clean energy industry is rushing to hitch a ride on President Joe Biden’s emerging infrastructure plan, which could top $3 trillion.

President Joe Biden’s Treasury Department is calling for a “more robust minimum tax” on profits earned by American corporations overseas to remove incentives for companies to shift earnings outside U.S. borders.

Democrats will likely prove successful in raising individual income tax rates and in strengthening audits of wealthy Americans as they work on overhauling the U.S. Tax Code in coming months.

The Investment Tax Credit and the Production Tax Credit can provide value in the corporate climate under President Biden.

President Joe Biden’s economic team at the White House is determined to make good on his campaign pledge to raise taxes on the rich, emboldened by mounting data showing how well America’s wealthy did financially during the pandemic.

The Biden administration said in a response to concerns raised by Republicans that state governments accepting pandemic-relief money from Washington are allowed to cut taxes, but only if they don’t use the federal aid to offset those reductions.

Experts read the tea leaves in the American Rescue Plan and other early hints of the administration’s revenue proposals.

Senate Democrats are sponsoring legislation to safeguard stimulus payments from debt collectors, while Republicans want states to be able to use funds from the new relief package for tax cuts.

A look at the administration's tax agenda, and why they'll have to hold off on it until budget reconciliation is available again.

President Joe Biden said anyone earning more than $400,000 a year would see a tax increase under his forthcoming economic program, highlighting the administration’s plans to address inequality in part through levies on the wealthy.

The Treasury Department and Internal Revenue Service have distributed more than half of the $410 billion in stimulus payments to individuals that Congress approved earlier this month.

For those with less than $150,000 in adjusted gross income who collected unemployment benefits this past year, the COVID relief bill allows them to receive up to $10,200 of those benefits tax-free.

The Small Business Administration pushed back the deferment period for all its disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until next year.

The Internal Revenue Service posted information about how to correctly compute the new exclusion on a portion of unemployment income as Congress pushes the IRS for further tax-filing relief.