Tax rates

Whether a rich person will pay more or less in taxes largely depends on just how much income they get, and how it’s earned.

President Joe Biden’s signature plan to expand the social safety net, address climate change and rewrite tax policies passed the House Friday morning as Speaker Nancy Pelosi united fractious Democrats to send the legislation to the Senate, where its fate remains uncertain.

The latest version of the spending package, which is still being debated, includes a minimum tax of 15% on a corporation’s book income.

The service released its annual inflation adjustments Wednesday, including the standard deduction amount for individual and married taxpayers.

The American Institute of CPAs sent a letter to Congress’s tax-writing committees asking lawmakers to reconsider the rules around the corporate minimum tax rate that’s currently part of the reconciliation bill now under consideration.

Leaders of the biggest economies formally backed a plan to overhaul the way countries tax multinationals in a bid to stem rate competition.

As Congress wrangles, advisors are struggling to figure out how to help clients.

President Biden will likely be unable to keep one of his key campaign promises because of unyielding resistance among even some in his own party to raise taxes.

The Arizona Democrat — who has opposed raising rates on corporations and individuals — will back ways of increasing revenue from domestic corporations, global companies, high net-worth individuals and through tax enforcement.

President Joe Biden’s acknowledgement that he doesn’t have sufficient Senate Democratic backing for his proposed increase in the U.S. corporate tax rate gives fresh impetus to efforts by negotiators to find alternative revenue sources for a sweeping social-spending bill.

Democratic negotiators have been working to address opposition from Senator Kyrsten Sinema, an Arizona moderate, to boosting rates.

They're exploring alternatives after months of focusing on proposals to increase tax rates on income and capital gains.

Congressional Democrats are at odds over President Biden’s economic agenda, even as party leaders aim to have a deal outline by the end of the week.

The ministers endorsed an overhaul of how countries tax big corporations, setting it for approval by heads of state at a summit later this month.

Nations resolved key differences over the level of a global minimum rate and an end to new digital taxes.

Global talks to reshape the corporate tax landscape are resuming on Friday with some holdouts to the international consensus on a minimum rate falling into line to back an agreement that still hangs in the balance.

The country's climbdown removes one hurdle to an unprecedented deal that would reshape the landscape for multinationals.

Waiting until after potential rate increases go into effect could lower values.

The economic package would raise $2.1 trillion in revenue through measures including tax increases on corporations and the wealthy.

The law professor who’s coordinated President Biden’s sweeping tax proposals is finding that many Democrats don’t share his zeal to soak the rich.