Tax

The House Ways and Means Committee approved revisions to the GOP tax legislation—changes that would trim the bill’s cost, putting it within the $1.5 trillion limit set by the congressional budget.

A sweeping amendment from the chairman of the House tax writing committee transformed key provisions of the GOP tax overhaul bill to boost the rate applied to companies’ offshore cash, tweak rules for pass-through businesses and restore the adoption credit, ahead of a full House vote that’s expected next week.

The 10,000 bitcoins that seven years ago famously paid for the delivery of two Papa John’s pizzas would be worth more than $74 million today.

Republican lawmakers pushing to close dozens of tax loopholes have left open one that’s been good to President Donald Trump: the golf break.

Partnerships, limited liability companies and other businesses could keep using state and local tax deductions that would be repealed for individuals, the chairman of the House tax writing panel said in a letter Thursday.

The Senate tax bill that’s due to be released Thursday won’t include an excise tax on certain payments U.S. multinationals make to overseas affiliates, according to a person familiar with the legislation.

The UHNW world is jolted by unwanted offshore disclosures and prominent executives are finding themselves in an uncomfortable spotlight.

The right-leaning Tax Foundation lowered its estimate for the boost to economic growth that it says would result from the House Republican tax bill.

It’s crunch time for Republican tax-writers on Thursday. The House Ways and Means Committee enters its final day of hammering out its tax-cut legislation, while a Senate panel plans to reveal its own version. Here are the latest developments, updated throughout the day:

The Internal Revenue Service’s Large Business and International division is launching 11 more compliance campaigns looking at various ways to ensure companies are meeting their tax obligations.