Tax cuts

There’s nothing like $1.5 trillion in tax cuts to help make friends at a gathering of conservative political donors.

President Donald Trump said Friday that U.S. economic growth promoted by his policies would help the world, seeking to square his “America First” agenda with globalism.

Bloomberg Tax released its 2018 Tax & Accounting Outlook, focusing on the Tax Cuts and Jobs Act that Congress passed last month.

Opponents of the new corporate tax cuts were right. Many companies didn’t pay the full rate before the law passed—so they won’t see splashy reductions in 2018, according to their own estimates.

The International Monetary Fund warned policymakers to be on guard for the next recession even as it predicted global growth will accelerate to the fastest pace in seven years as U.S. tax cuts spur businesses to invest.

The Tax Cuts and Jobs Act has been marketed as a much-needed simplification for American taxes, and American expatriates comprise a tax-paying demographic most in need of simplification of the tax requirements.

New York state would end income taxes on wage earners and make up the revenue with an employer payroll tax that’s federally deductible as part of a restructuring plan that Governor Andrew Cuomo is recommending to mitigate harmful effects of the new U.S. tax code.

In liberal bastions like metro New York and California, the Trump tax overhaul has been criticized as economic warfare. But as elements of the plan come into focus, tax experts are concluding that some of the most dire predictions for high-tax blue states—particularly surrounding the treatment of state and local taxes—may not pan out as feared.

The Financial Accounting Standards Board issued a one-page Q&A document Thursday from its staff letting private companies and nonprofits apply recent staff guidance from the Securities and Exchange Commission on the tax accounting implications of the recently passed Tax Cuts and Jobs Act and plans future Q&A documents, along with an accounting standards update.

Companies that stockpiled trillions of dollars offshore free of U.S. income tax may get one last break before paying up—provided their fiscal years don’t follow the calendar year.

National Taxpayer Advocate Nina Olson outlined concerns about how the Internal Revenue Service will be able to implement the new tax law after a series of budget cuts, in her new report to Congress.

Warren Buffett said the U.S. tax cut will make companies more valuable by giving owners a bigger share of profits.

President Donald Trump told a group of farmers on Monday that recent tax cuts and deregulation will revitalize the U.S. rural economy.

Ranking Dems are worried the Internal Revenue Service might succumb to political pressure to make it appear that tax cuts are larger than they really are.

Wolters Kluwer Tax & Accounting has released guides for both consumers and tax professionals to the new tax reform law that President Trump signed into law Friday.

President Donald Trump signed the Republican tax-overhaul bill to little fanfare on Friday, delivering a major tax cut to U.S. corporations along with a package of temporary cuts for other businesses and most individuals.

Shortly before passing a far-reaching but unpopular bill on a party line vote, the Speaker of the House assured critics that people would like it once they felt its benefits.

President Donald Trump declared that Republicans had passed the largest tax cut in U.S. history and said corporations would no longer relocate their headquarters overseas after the House sent the legislation to his desk on Wednesday.

House Republicans passed the most extensive rewrite of the U.S. tax code in more than 30 years—hours after the Senate passed the legislation—handing President Donald Trump his first major legislative victory.

If you’re confused by how the Republican tax bill will affect you, you’re not alone.