Tax

Oh, Momma; investments and deductions; against the wall; and other highlights of recent tax cases.

The service is showing signs that it’s planning to issue regulations on the deductibility of expenses for estates and trusts in the wake of the new tax law.

Despite all the talk from some in Washington, D.C., Obamacare is not going away -- and neither are the responsibilities of employers to comply with the health care law.

Senators Rob Portman, R-Ohio, and Ben Cardin, D-Md., introduced bipartisan legislation Thursday to make the Internal Revenue Service more accountable to taxpayers, as well as revive the IRS’s regulation of tax preparers, as a panel of tax experts testified before their subcommittee about improving tax administration at the IRS.

The House approved a repeal of the Affordable Care Act’s medical device tax, along with a bill that prohibits the IRS from rehiring any employee who was fired for misconduct.

President Donald Trump’s nominee for chief counsel of the Internal Revenue Service briefly advised the future president’s real estate company on a tax question several years ago.

It’s easy to be outraged about multinational corporations’ shifting of profits to tax havens, but much harder to figure out how to stop them from doing it without hurting the economy. Evidence exists that curbing tax avoidance opportunities makes these firms move actual jobs, not just accounting profits, overseas.

Liberty Tax Inc. shares climbed as much as 28 percent, the most in more than six years, after founder John Hewitt agreed to sever ties with the company and sell all of his shares following a sex scandal that had already cost him his job as chief executive officer.

In a case involving how expenses are allocated between corporate domestic and overseas operations, the Ninth Circuit Court of Appeals reversed on Tuesday the Tax Court’s decision in a major win for the Internal Revenue Service against Intel’s subsidiary Altera.

House Republicans unveiled a broad outline on Tuesday for their next phase of tax code changes, which steered clear of correcting technical mistakes from last year’s overhaul.