Finance

Donald Trump the real estate developer owes much of his fame to the 1980s. Now Donald Trump the presidential candidate is going back to that decade to call on President Ronald Reagan’s economic team.

Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, has introduced legislation that would require presidential nominees such as Donald Trump, the presumptive Republican nominee, to release their tax returns.

Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, released a legislative discussion draft Wednesday to lay the groundwork for tax reform in the area of financial derivatives.

The Senate Finance Committee held a hearing Tuesday on integrating the corporate and individual tax codes, specifically in terms of allowing corporations to deduct the dividends they pay shareholders from their taxes.

Rep. Sander Levin, D-Mich., the ranking Democrat on the House Ways and Means Committee, introduced legislation to limit two tax strategies used by some foreign-controlled U.S. multinational corporations, known as “hopscotching” and “de-controlling.”

The House passed bipartisan legislation Monday to prevent taxpayer identity theft and help victims whose tax refunds have been stolen by identity thieves. The bill was co-sponsored by a CPA turned lawmaker whose own identity was stolen last tax season.

President Barack Obama has now joined personally in renewed efforts to pressure Kentucky Senator Rand Paul to stop blocking the ratification of eight tax treaties pending before the U.S. Senate. Paul is sticking to his guns, and it’s important for Americans to understand why.

The House has passed legislation permitting the Internal Revenue Service to share taxpayer information with state and local law enforcement agencies to help find missing or exploited children, while maintaining safeguards for sensitive taxpayer information.

Donald Trump made a break from conservative orthodoxy on Sunday when he backed away from proposing large tax cuts for wealthy Americans.

Donald Trump said “hedge fund guys are getting away with murder” when he called for ending a lucrative tax advantage for investment managers, but his published tax plan would give them an even bigger break.