Tax breaks

The president's 2025 budget proposal aims to deliver more services, middle-class tax breaks and price controls funded through higher taxes on the wealthy and corporations.

The legislation is still tied up in the Senate, as senators seek changes in some of the provisions, such as the expanded Child Tax Credit.

The measure now heads to the Senate where lackluster Republican support threatens to sink it.

Speaker Mike Johnson will allow a vote on a $78 billion business and child tax break bill, siding with corporations over a group of Republicans who objected to the package negotiated with Senate Democrats.

A growing divide is emerging between Republicans and the business interests the GOP once unflinchingly championed.

The House Ways and Means Committee reported the text of the Tax Relief for Workers and Families Act after voting last week to advance the bipartisan bill.

Congress moved one step closer to enacting $78 billion in business and child tax breaks Friday, although election-year politics add risk to the legislation's prospects.

Businesses eager for a tax deal announced by two powerful U.S. lawmakers can't yet bank on the corporate breaks.

The chairs of Congress' two main tax committees announced a deal to extend a number of expired tax credits and tax breaks, including the expanded Child Tax Credit.

The failure of the leaders of the Ivy League universities to condemn antisemitism could affect their tax-exempt status, the chairman of the House Ways and Means Committee said.

Negotiators are nearing a bipartisan deal in time for many voters to receive the benefits during the current election year.

The New York governor called for a new tax break to promote affordable housing and increase support for fighting crime in New York City.

Businesses eager to see Congress revive expired research and investment tax breaks have reason for optimism that a deal could come together as soon as this month.

What do these changes mean for taxpayers and how can accountants help manage the impact?

Among the items now stalled are a measure to extend federal banking protections to marijuana companies operating in states where the drug is legal and negotiations to restore tax breaks for business spending on research and development.

Legislation to extend the 20% deduction for pass-through businesses beyond its expiration date in 2025 is attracting bipartisan support in the House and Senate.

Green is costing green; Moore to come; disaster disbelief; and other highlights from our favorite tax bloggers.

Mayor Michelle Wu's proposal is the latest example of a city seeking to address the challenges of remote work hitting downtowns and a lack of affordable residences.

U.S. prosecutors and IRS agents are looking to build cases against individuals suspected of illegally taking advantage of breaks that lured crypto traders and fund managers.

As bonus depreciation leverages down, cost segregation professionals have to wonder what happens if bonus phases out.