Tax

Senator Bob Corker wrote to Senate Finance Committee Chairman Orrin Hatch asking for an “explanation” of how a provision on pass-through businesses that would benefit real estate investors came to be included in the final version of the Republican tax bill.

Mortgage lenders are bracing for big delays in the processing of mortgage applications, citing a problem with the income verification system at the Internal Revenue Service.

Some taxpayers may be able to claim losses on 2016 returns.

The IRS has guidance for taxpayers who suffered under Harvey, Maria and Irma.

On Friday, the Republican leadership in Congress released the contents of the tax reform bill they expect to vote on in the week before Christmas.

Assuming the GOP bill passes, it will still need to be implemented, and a technical corrections bill issued.

The final version of the tax bill struck by Congressional negotiators would continue to subsidize municipal bonds that help businesses to finance infrastructure projects such as airports and toll roads, dropping one provision that threatened to cut sales of tax-exempt debt by tens of billions of dollars starting next year.

Last-minute changes to the Republican tax bill contain an unpleasant surprise for married couples who make between $600,000 and $1 million: They won’t be getting as big a tax cut as lawmakers planned earlier.

Amazon.com Inc. will pay 100 million euros ($118 million) to the Italian tax authorities for the period of 2011-2015 in a settlement that closes the fiscal probe by the country’s tax police, Italy’s Revenue Agency said in an emailed statement Friday.

Congressional leaders have reached a deal preserving a $12 billion source of financing for U.S. wind and solar developers.