Finance

President Obama signed into law on Monday a two-year budget deal that Congress approved last week to raise the debt limit and avert a default. To help pay for it, the bill includes a provision that will make it easier for the Internal Revenue Service to audit large partnerships, including hedge funds, private equity firms and even accounting firms.

A number of presidential candidates have proposed their tax policies, several of which were fleshed out by Republican candidates during Wednesday night’s debate.

Rep. Sam Johnson, R-Texas, has been named acting chairman of the House Ways and Means Committee, the main tax-writing committee in Congress.

Crowe Horwath LLP has issued a year-end tax-planning guide with information on income tax deductions, investments, retirement and estate planning and tax rates, along with what to do about the uncertain state of the tax extenders legislation in Congress.

Grant Thornton LLP offers 10 tax tips for the end of calendar year 2015.

Republican presidential candidates John Kasich and Rick Santorum have released their tax reform plans.

The Senate Finance Committee held a hearing on improper payments, including what role is played by tax preparers in claiming the Earned Income Tax Credit on behalf of clients.

Tax provisions that are likely to be passed – however late

Provisions that are likely to be passed – however late (slideshow version)

A group of Senate Democrats have unveiled a bill to provide more incentives for clean energy, including tax breaks.