Tax

As the tax debate hits its latest crescendo in Washington, TV ads trying to influence the biggest rewrite of the code in three decades have increasingly targeted states with wavering Republicans, including Wisconsin and Maine.

The Treasury Department’s inspector general is examining whether political considerations interfered with Secretary Steven Mnuchin’s promised analysis of the Republican tax proposal.

The Senate held a round of marathon votes Friday and ultimately passed the bill overnight. Here are the latest developments, updated throughout the day.

As if the Republican tax reform plan wasn’t bad enough already for taxpayers, the latest scheme to win over more votes of a precarious Senate majority involves adding a “trigger” to raise certain taxes if there isn’t enough economic growth to cover the $1.4 trillion cost of the bill, though the Senate's parliamentarian appears to have just shot down that proposal.

A push by some Republican senators to ward off future deficits by tucking a potential corporate tax increase into their tax-overhaul bill would set up a kind of economic booby trap—putting the GOP’s much-desired growth at risk, according to a half-dozen economists, lobbyists and tax experts.

The tax reform bills passed by the House, and soon to be passed by the Senate, have many similarities. And you can count on measures that are the same in both bills to end up in the final version to be signed by the President.

In the rush to borrow before the Republican tax bill reshapes the debt market, states and municipalities are paying up. The biggest spree of debt issuance in more than a decade has pushed up borrowing costs and eroded returns in the $3.8 trillion municipal-debt market.

Outgoing Federal Reserve Chair Janet Yellen said the central bank would welcome and support a faster expansion of the economy stemming from changes in the tax code, provided it was the right kind of growth.

Some Republican senators hate that they’re about to vote for a bill that cuts individual tax rates before raising them back in a few years.

When U.S. Senate lawmakers changed just two letters used for a calculation in their proposed tax bill, they may have increased the number of junk-rated companies that would be hurt by tax overhaul.

The Senate tax bill is headed for a marathon debate this week after Republican leaders brought the measure to the floor Wednesday with the goal of holding a final vote by the end of the week. Here are the latest developments, updated throughout the day.

President Donald Trump is pitching the Republican tax-cut plan as aimed primarily at helping middle-class Americans, but the biggest beneficiaries of cuts in the individual tax rates are in the wealthiest income brackets.

Coinbase Inc. lost a bid to block an Internal Revenue Service investigation into whether some of the company’s customers haven’t reported their cryptocurrency gains.

Major companies including Cisco Systems Inc., Pfizer Inc. and Coca-Cola Co. say they’ll turn over most gains from proposed corporate tax cuts to their shareholders, undercutting President Donald Trump’s promise that his plan will create jobs and boost wages for the middle class.

Doing away with advance refundings would eliminate a crucial tool that’s saved governments tens of billions since interest rates tumbled after last decade’s recession.

Senate Republicans are discussing adding provisions to their tax bill that could trigger up to $350 billion in automatic tax increases over 10 years beginning in 2022, according to two people briefed by congressional staff members on the plan.

The mortgage industry is panicking over a provision in the Senate tax bill that some analysts and trade groups say may drive small lenders out of the business.

Tax professionals who use the form-filling software can now access practice management tools.

The Senate tax bill is headed for a marathon debate this week as Republican leaders plan to bring the measure to the floor Wednesday and hold a final vote as early as Thursday. Here are the latest developments, updated throughout the day.

A new report from the Government Accountability Office suggests the Internal Revenue Service should increase its efforts to collaborate with the tax preparation industry and state tax authorities in the battle against identity theft and tax fraud.