Corporate taxes

The Internal Revenue Service and the Treasury Department announced changes Tuesday in the procedures for changing the accounting period of foreign corporations owned by U.S. shareholders subject to the transition tax under the Tax Cuts and Jobs Act.

The political network backed by billionaires Charles and David Koch is launching a $4 million advertising campaign against two Senate Democrats facing re-election in 2018, as it starts to fulfill a pledge to spend $20 million selling the federal tax overhaul passed late last year.

The Trump administration has no formal proposal on the table for a so-called reciprocal tax on imports, according to a U.S. official who sought to clarify whether a levy that risks escalating tensions with key trading partners would be enacted.

Oil companies that have claimed more than a billion dollars in tax credits for burying carbon dioxide underground just got a windfall from Congress, which expanded that incentive as part of the government spending bill signed into law on Friday.

The American Institute of CPAs is asking the Internal Revenue Service to provide relief from tax penalties to taxpayers who are required for the first time to file information returns related to Controlled Foreign Corporations.

Tax cuts signed by an America First president are turning out to be a major boon to some of the world’s biggest automakers—except those based in the U.S.

With the passage of the sweeping tax overhaul, small businesses and entrepreneurs are scrambling to understand how the changes will affect them.

The Internal Revenue Service said Tuesday that fees multinational business taxpayers pay to request a unilateral or bilateral advance pricing agreement will be increasing.

President Donald Trump’s corporate tax cuts are already having a big impact.

Oilmen, wildcatters and particularly refiners are reaping billions in gains from President Donald Trump’s tax overhaul, helping boost the staying power of old-style energy even as the world searches for cleaner fuels.