As the Republican-controlled Congress tries to push through tax reform this year, one group of Americans may question why it’s coming up a scoop short.

The Republican tax-overhaul effort is in for a marathon debate on the Senate floor at the end of this month, with dozens of doomed Democratic amendments. But the real action will be elsewhere, behind closed doors.

Senator Susan Collins said the Republican tax plan passed by the Senate Finance Committee on Thursday “needs work.”

Senate Republicans say their tax bill will bring big tax cuts for middle-class families and businesses. If you own a private jet, you’ll also get a break.

For more than 30 years, colleges and universities have leaned on an obscure tax rule that allows sports boosters to make tax-deductible contributions to their teams. Athletic fundraisers around the country say that’s an advantage that generates millions in annual revenue—and one that’s threatened by Republican tax legislation.

Vice President Mike Pence said Republicans would repeal the estate tax—a step that the Senate GOP tax plan doesn’t currently plan to take.

The Republican tax plan isn’t designed to help rich New Yorkers, but Wall Street can certainly look forward to some advantages, said Treasury Secretary Steven Mnuchin.

Hours after House Republicans jubilantly passed their tax bill, their colleagues on the Senate Finance Committee approved a far different version—one that postpones difficult questions as lawmakers rush to refashion much of the U.S. economy on a tight timeline.

U.S. public companies recorded $28.5 billion in goodwill impairment in 2016, half the $56.9 billion they reported in 2015, according to a new study.

Experts from PwC parse the differences between the tax reform bills on the treatment of pass-through businesses.

Differences with the as-yet-unpassed Senate bill need to be reconciled.

The House passed tax reform legislation Thursday by a vote of 227-205, with 13 Republicans voting against the bill, as the Senate Finance Committee continued debating and marking up a significantly different version of the bill.

House Republicans passed their version of legislation to overhaul the U.S. tax code by slashing the corporate tax rate, lowering tax burdens for most individuals and adding an estimated $1.4 trillion to the federal deficit over the next decade.

Senate Republicans may face a political problem in the final push for their tax-cut plan, and they might need Democrats to help fix it.

Treasury Secretary Steven Mnuchin is mounting a cross-country roadshow to persuade businesses and the Republican faithful to put their weight behind a proposed tax overhaul from the Trump administration that so far lacks broad public support.

President Donald Trump is confident that House Republican leaders have the votes to pass their version of a tax overhaul, and he’ll thank members of the GOP conference and field their questions on a visit to the Capitol this morning, a senior administration official said.

House Republicans passed their tax-overhaul bill on Thursday as Senate tax writers sent their proposal to make individual breaks temporary and repeal a key part of the Obamacare law to the Senate floor. Here are the latest developments, updated throughout the day:

Mark your calendars! The effective date for the FASB and IASB’s new revenue recognition accounting standards (ASC 606 and IFRS 15) is approaching.

The upcoming revenue recognition standard is likely to accelerate the earnings of many software companies, with many developers likely to transition from upfront license sales to subscriptions, according to a new report.

Many businesses are still getting ready for the new revenue recognition and leasing standards, and in some cases that involves changing their technology and processes.