Tax

The Internal Revenue Service released on Thursday the 2018 optional standard mileage rates that taxpayers and tax professionals can use to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Declining manpower continues to sap the Internal Revenue Service’s ability to pursue criminal cases, as the number of new investigations dropped by 11 percent over the past year and recommendations for prosecution fell by 18 percent.

Congressional tax negotiators have reached a tentative deal that would mostly shield the renewable energy industry from a provision that threatened to dry up a $12 billion tax-equity market, said Senator John Thune, the chamber’s No. 3 Republican.

Congressional leaders worked quickly to finalize compromise legislation for floor votes next week in an all-out effort to provide themselves and President Donald Trump with a major policy victory before the end of 2017. Here are the latest developments, updated throughout the day.

Some brokerage firms are concerned that the tax overhaul could lead to upheaval, pushing their employees to set up their own shops or switch firms to lower their tax bills.

President Donald Trump insisted Wednesday that his tax cut is all about helping the middle class even as Republican leaders formed a last-minute plan to cut the top rate paid by million-dollar earners.

Details about the tax reform bill coming out of the conference committee may give tax pros what they need to begin advising clients.

The Internal Revenue Service issued a warning Wednesday to taxpayers and tax professionals about a new email scam targeting Hotmail users in which the thieves try to steal personal and financial information.

Republican lawmakers will overturn a key piece of the Affordable Care Act in their tax overhaul, a victory in a long GOP campaign against the health law.

Republican Senator Marco Rubio is facing a choice of whether his vote will match his tweets and become a roadblock to major tax legislation that his party leaders are rushing toward a final vote.