Tax

Senate Republicans have tossed a potential bomb in the middle of their tax overhaul bill.

In Vanuatu, a remote archipelago in the South Pacific, a popular tourist attraction is something called land diving. Villagers on the lush outer island of Pentecost jump headfirst from a tall wooden tower with tree vines tied to their ankles to break their fall. For the divers, the rite of passage is a plunge into the unknown—and that’s not a bad metaphor for where this secretive tax haven is headed these days.

The partnership hopes to encourage tax firms to expand their practices with the new offerings.

The company’s third annual conference will focus on the future of tax compliance.

Here are the latest developments, updated throughout the day.

House Speaker Paul Ryan said temporary provisions in the GOP tax bill won’t really go away in a few years—he predicted that future Congresses will preserve them, and he didn’t mention the impact that would have on the federal deficit.

The two tax plans right now; bad bets; the future of audit; and other highlights from our favorite tax bloggers.

Key stumbling blocks remain for tax reform, including a ticking clock, differences in key provisions, and the cost.

U.S. companies that make billions of dollars from patents and other intellectual property held offshore would be eligible for a special 12.5 percent tax rate on those earnings under the Senate tax plan.

Startups and venture capitalists rarely get worked up over laws before they pass, but the tax plan currently winding its way through Congress is causing an uproar in Silicon Valley.