State taxes

As 2017 draws to a close, the uncertain tax and legislative environment means that year-end tax planning is more important than usual. To help individuals and businesses prepare for filing season, Grant Thornton LLP has some tips.

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.”

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.

House Speaker Paul Ryan said temporary provisions in the GOP tax bill won’t really go away in a few years—he predicted that future Congresses will preserve them, and he didn’t mention the impact that would have on the federal deficit.

The Senate tax-writing committee plans to start hammering out the details of its tax cut proposal on Monday. The House may vote on its bill as soon as Thursday. Here are the latest developments, updated throughout the day.

The Senate tax-writing committee plans to start hammering out the details of its tax cut proposal on Monday. The House may vote on its bill as soon as Thursday. Here are the latest developments, updated throughout the day.

Republican tax writers in the House and Senate scoured the U.S. tax code Thursday and shook the couch cushions for loose change, as one member put it, in an all-day struggle to find ways to pay for the deep tax cuts their leaders and President Donald Trump have promised.

Partnerships, limited liability companies and other businesses could keep using state and local tax deductions that would be repealed for individuals, the chairman of the House tax writing panel said in a letter Thursday.

The House tax-writing committee begins debate Monday on the GOP’s proposed overhaul, kicking off four frantic days for lobbyists and lawmakers to revise a bill that represents President Donald Trump’s final hope for a signature legislative achievement this year.

Tax chief Kevin Brady has announced a plan to ‘work through the night’ on the bill.

Bowing to concerns from Republican House members in high-tax states, the chamber’s chief tax writer said he’ll preserve a federal income-tax break for property taxes.

Republicans are barreling into a lobbying frenzy next week, when House Ways and Means Chairman Kevin Brady plans to unveil a sweeping tax bill to remake the U.S. economy that’s being crafted with rigorous secrecy.

House Republicans narrowly adopted a budget resolution Thursday unlocking a fast-track process to achieve their long-sought goal of cutting Americans’ taxes by the end of the year. The next step will be releasing a draft tax measure as early as Nov. 1.

Congress is trying to ram through a bill that would reshape the U.S. economy in just a few short weeks, but its leaders have kept the plan shrouded in secrecy and released not a word of legislative text.

House Speaker Paul Ryan’s efforts to kill a deduction as part of a Republican tax overhaul would hit very close to home—among his constituents with homes on glistening Geneva Lake in his southeastern Wisconsin district.

House Ways and Means Chairman Kevin Brady said Wednesday he expects to announce a deal with concerned Republicans from high-tax states on the state and local tax deduction “before the bill will be laid out next week.”

The Senate budget agreement moves tax reform back to the other chamber of Congress.

The GOP show of unity will allow reform to pass on a party-line vote.

Opinions vary wildly as to who does and who doesn’t belong to this heavily courted demographic.