Tax

Republican and Democratic lawmakers in the Senate and House have teamed up to introduce bipartisan legislation to assist tax-exempt cooperative organizations.

Even if House Democrats get their hands on Donald Trump’s tax returns, many of their biggest questions about the president’s finances will probably go unanswered.

Zapped; drug deals; doing the deduction shuffle; and other highlights of recent tax cases.

The Republican and Democratic leaders of the Senate Finance Committee, chairman Chuck Grassley, R-Iowa, and ranking member Ron Wyden, D-Ore., are asking the Internal Revenue Service to crack down on the people involved in the recent college admissions scandal.

The new tax law and the 35-day shutdown had an impact on the agency, but it still managed to process over 59 million returns by mid-season.

David Knoch, the president of 1st Global, is getting ready for the close of the acquisition of his financial advisory firm by Blucora, the parent company of HD Vest, and is making plans for aligning with a former rival.

Remember back in early 2016 when Donald Trump, who was still regarded as something of a long shot for the presidency, promised he would disclose his tax returns publicly — just like every other candidate had done voluntarily since 1973?

The Massachusetts Democrat submitted a formal request to the IRS commissioner asking for copies of Trump’s returns going back to 2013.

House Democrats are looking to find a compromise solution to the Republican tax law’s cap on the amount of state and local levies that can be written off a federal return, a limit they say has caused their constituents to lose out on billions of dollars of deductions.

The program offers qualifying taxpayers who have capital gains income a highly flexible way to defer and eliminate a portion of the federal gain and possibly state gain.