New estimates from the Congressional Budget Office incorporate the broader impact the legislation would have on the economy and federal budget.

The provision would allow energy companies subject to a 15% corporate alternative minimum tax to deduct certain drilling costs when calculating taxable income.

Senate Republicans plan to modify the massive fiscal package to lower maximum deductions for state and local taxes and limit the impact of a "revenge" tax.

Businesses and rich universities scored wins in the Senate version of Trump's tax bill, while low-income Americans and clean energy providers were hit hard.

Private universities with at least 500 students that have endowments of $2 million per pupil or more would pay an excise tax of 8% under the new bill.

The prospect of prolonged talks with holdouts threatens Senate Majority Leader John Thune's goal of passing President Trump's tax-cut legislation by July 4.

Senate Republicans propose to cut trillions of dollars in taxes for households and businesses in their version of President Trump's signature economic package.

The bill, whose revised text was just released by the Senate, includes a number of significant tax provisions for both corporate taxpayers and nonprofits.

President Donald Trump and his allies are pursuing an alternative strategy to defend against mounting court orders blocking his policies: Raise the financial stakes for those suing the administration.

The bill text will represent a major breakthrough for the GOP as it seeks to continue to advance the centerpiece of Trump's economic agenda.

A controversial provision in Trump's tax bill aimed at penalizing countries with "unfair" tax regimes is unlikely to disrupt U.S. bond and stock markets.

The House version of the massive tax and spending bill would deliver a financial blow to the poorest Americans but be a boon for higher-income households.

The Treasury Department and the IRS are giving brokers additional time to comply with requirements to withhold taxes on digital asset sales.

The International Financial Reporting Standards Foundation has posted profiles of 17 of the 36 jurisdictions that have either adopted or used the disclosures.

The Texas senator pitched Republican senators on ending the Federal Reserve's authority to pay interest to banks, claiming it would save $1.1 trillion over a decade.

The sale of federal land would provide billions of dollars to help pay for the massive package of tax cuts in the Senate's version of the bill.

A $30,000 cap on the state and local tax deduction would be a compromise between current law and the more generous limit in the House's version of the bill.

The Section 899 "revenge tax" in President Trump's massive tax and spending bill may be delayed as it faces pushback from Wall Street and businesses.

The Senate is considering a plan to save a lucrative tax credit for the production of hydrogen that would be scrapped in the tax mega bill passed by the House.

Rev. Proc. 2025-23 updates the list of 'automatic procedures' for changes in methods of accounting.