Tax deductions

The Internal Revenue Service issued its annual notice setting the daily rates that business travelers can use when deducting their expenses.

The House Ways and Means Committee held a markup session to consider the Digital Asset Tax Certainty Act, EFIN Verification Act and FULL HOUSE Act.

The largest private foundations are just barely exceeding the 5% statutory threshold for charitable donations, according to a new report.

The Internal Revenue Service has updated the questions and answers in its fact sheet on the new overtime deduction under the One Big Beautiful Bill Act, now known as the Working Families Tax Cuts.

A documented compensation study protects a growing C corporation's biggest deduction from being recast as a dividend.

There's little consistency in how businesses across different countries can deduct their capital investments as depreciation, according to a new study.

The Internal Revenue Service has raised the optional 2026 standard mileage rates for deducting expenses for the remainder of the year thanks to inflation.

Representative Mike Lawler, a key negotiator behind the temporary increase to the cap on state and local tax deductions, pushed back on efforts to expand it.

The IRS provided more details about the settlements it's offering for a limited time in syndicated conservation easement and historic preservation claims.

Trump took his economic pitch to The Villages in Florida where he promoted a deduction for seniors that helps reduce their tax burden.

A group of bipartisan bills moved through the House this week that would make changes in IRS administration, customer service, taxpayer privacy, tax return processing, as well as disaster relief and tax breaks.

The Justice Department's order delivers meaningful tax relief to the medical cannabis industry and signals a serious federal effort to align with state laws.

The IRS posted an updated fact sheet on the tax rules surrounding educational assistance benefits after the passage of the One Big Beautiful Bill Act.

Frank Bisignano testified on Tax Day during a Senate hearing about this past filing season and how IRS operations were affected by the new tax deductions.

Josh Gottheimer is looking to roughly double the cap on state and local tax deductions, in a bid to secure more savings for residents in high-tax states.

Americans rushing to meet the tax deadline are getting bigger refunds on average thanks to Trump's tax law, though the savings are falling short of his promises.

The Internal Revenue Service will need to be ready for a wave of tax return filings from procrastinating taxpayers, as well as requests for extensions.

The IRS declined to include accountants or tax preparers as qualified occupations, despite support in public comments.

The Internal Revenue Service and the Treasury released final regulations on the new tax deduction for tipped employees under the One Big Beautiful Bill Act.

If Congress attempts to pass a second tax bill before the midterms, Rep. LaLota plans to push to expand the state and local tax deduction.