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The outcome of Tuesday’s election could be profound tax changes, but that’s only if one party wins control of both houses of Congress and the White House.October 30
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The Internal Revenue Service has posted instructions for both employers and employees about how to handle the Form W-2 reporting for the payroll tax deferral under President Trump’s executive action.October 30
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As the country looks to make its choice between two decidedly different candidates, tax preparers are watching the race play itself out from a unique vantage point.October 29
Executive editorTax & Accounting Professionals business of Thomson Reuters
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Former vice president and Democratic presidential candidate Joe Biden’s tax proposal will limit direct tax increases to just 1.9 percent of taxpayers.October 21
PresidentTax Tabs
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Rep. Kevin Brady and House Republican Leader Kevin McCarthy, introduced legislation to extend a number of tax breaks in the Tax Cuts and Jobs Act of 2017, and add some more .October 9
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Sen. Chris Van Hollen, D-Maryland, and 16 other Senate Democrats introduced legislation Friday to make President Trump’s payroll tax deferral optional for federal employees and military service members.October 9
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The Internal Revenue Service issued guidelines Wednesday scaling back a tax break for client entertainment, following through on an element of President Donald Trump’s 2017 tax overhaul that he has said he wants to reverse amid the virus pandemic.October 2
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The U.S. Senate and Supreme Court are joining the House in not implementing President Donald Trump’s order allowing employers to defer payroll taxes owed by workers.September 16
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The U.S. House of Representatives won’t implement President Donald Trump’s order allowing employers to defer payroll taxes owed by workers, joining major companies in rejecting the option.September 14
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Democrats on the tax-writing House Ways and Means Committee introduced a bill to overturn President Trump’s executive action to defer payroll tax contributions, along with a resolution of disapproval that’s being coordinated with Democrats in the Senate.September 8
