Tax

The cost of the draft plan for sweeping tax cuts weighed in at $3.8 trillion over the next 10 years in one official estimate. The reality is likely much higher.

Rep. Jason Smith said lawmakers from high-tax states should support the $30,000 limit his committee put on the state and local tax deduction.

The American Institute of CPAs is concerned about a provision in the tax reconciliation bill limiting deductibility of state and local taxes paid by firms.

Wealthy Americans and business investors are among the big winners while targets of Trump's ire such as immigrants and elite universities were hammered.

Key Senate Republicans are resisting the House's plan to gut clean energy tax credits, vowing to soften the blow for emerging technologies and nuclear power.

The IRS is granting up to $200,000 to individual low-income taxpayer clinics.

President Trump's economic package took a major step toward becoming law when a House committee approved trillions in new tax cuts on a party-line vote.

Valuations this year; handling interviewees; AI and accounting ed.; and other highlights from our favorite tax bloggers.

The House Ways and Means Committee held a hearing to mark up the "one, big beautiful bill" extending expiring provisions of the TCJA and adding other tax breaks.