Tax laws

Secretary of Education Betsy DeVos is calling on Congress to allow the Internal Revenue Service to give the Department of Education information on the income of student loan borrowers, warning that student loan applicants are misrepresenting their income and family size to qualify for reduced payment plans.

Nina Olson also suggested different ways to increase the participation rate of eligible taxpayers in claiming the Earned Income Tax Credit.

The biggest tax challenge for a majority of corporate tax executives is staying up to date with all the changes associated with the 2017 Tax Cuts and Jobs Act, according to a new survey.

The package of far-reaching IRS reforms received strong bipartisan support in the House and Senate last month.

The chief pointed to his own history as a tax attorney, while reminding tax pros that the IRS is watching from the compliance and enforcement side.

Democratic presidential candidates like Joe Biden and Kamala Harris have talked about repealing the GOP’s tax overhaul. Yet a large-scale rollback is unlikely. Instead, two other forces could slowly unravel the law — Democrats currently in power in the House and President Donald Trump’s trade policies.

The Tax Cuts and Jobs Act fixed some parts of the problem, and exacerbated others.

The American Institute of CPAs dispatched hundreds of CPAs to lobby their state and local lawmakers on Capitol Hill this week in conjunction with the AICPA’s Spring Meeting of Council in Washington, D.C.

The senator said she’d seek to repeal all of the tax overhaul, including its breaks for wealthy earners, corporations and the middle class.

A bipartisan group of lawmakers has introduced legislation to offer tax relief to children who have lost a parent serving in the military after recent reports that “Gold Star” families are facing unexpectedly heavy tax bills because of the implications of a provision in the Tax Cuts and Jobs Act.