Staffers on Congress’s Joint Committee on Taxation have been preparing a set of technical corrections to the tax reform bill and hope to have it in legislative form by the end of this congressional session. But that doesn’t mean it’s going to pass anytime soon.
A group of lawmakers on the House Ways and Means Oversight Subcommittee are asking the Internal Revenue Service’s acting commissioner, David Kautter, to explain why the IRS’s systems crash occurred on Tax Day, April 17.
A Senate hearing Tuesday indicated the politics of the tax overhaul haven’t changed since it passed in December, with Republicans singing its praises as an economist booster and Democrats torching it as a broken promise that mostly benefits the wealthiest.
The iPhone maker will start transferring billions of euros to Ireland within months, after reaching a deal on an account to hold the cash while it fights a European tax case.
Last year’s federal tax overhaul saved the largest U.S. wireless carrier an amount nearly equal to the $4.5 billion it paid for the internet pioneer in June.
