Politics

President Biden wants the wealthy to "pay their fair share." Ex-President Trump calls for "the biggest tax cuts." But labeling people as rich creates massive policy challenges.

Planners who recommend the increasingly popular charitable vehicles could face penalties for what's currently a pretty common practice in the industry, experts say.

The 20% deduction for the qualified income of pass-through entities has strong supporters and critics. Here's how tax experts say it could play out if made permanent.

A provision paying for breaks for parents and business owners has earned widespread praise, but an expert says financial advisors should be on alert.

Here's a breakdown of the most important proposals and debates circulating in policy circles ahead of this year's election and a big Supreme Court decision.

The arguments in Moore v. U.S. carry major potential implications, but these 14 excerpts suggest SCOTUS will deliver a less sweeping decision next year.

Moore v. U.S. could "basically get rid of, I don't know, a third of the tax code," former House Speaker Paul Ryan has said.

Whether a qualified, disclaimer or adverse opinion is given depends on the nature and scale of the problem, and some states had lots of problems.

The North Dakota governor started his career growing accounting software company Great Plains Software into a company that was acquired by Microsoft for $1.1 billion.

A series of tentative compromises were worked out on spending caps, the defense budget and IRS funding.

Isn't it reasonable to expect that state governments' financial reporting have full accountability and thus, receive clean audit reports? Often, they do not.

House GOP leaders also called for the Justice Department to investigate allegations by an IRS whistleblower involving Hunter Biden.

In the mayoral runoff, Chicago elected Brandon Johnson, a progressive who plans to raise taxes on major corporations to boost the city's revenue.

Billions of dollars available — through subsidies and tax credits — to promote the production and purchase of electric vehicles.

Proposed guidance aims to reduce U.S. reliance on China for batteries and minerals.

The Biden administration's requirements for electric vehicle tax credits will reduce the number of models eligible for incentives until tens of billions of new investment in U.S. manufacturing by automakers and suppliers kick in.

Long-awaited proposed guidance gives details on the new tax credits for electric vehicles under the Inflation Reduction Act.

Balances in rainy-day funds hit all-time highs in 37 states by the end of the 2022 fiscal year. That's the biggest tally in over two decades.

Members of the House Freedom Caucus are demanding an end to student loan forgiveness, the elimination of the $80 billion expansion of the IRS, and more.

SECURE 2.0 fueled an expansion of the 'Cadillac' of nest eggs. Here's what you need to know.