Tax planning

Congressional leaders and Trump administration officials have been meeting in secret to try to reach a united front for rewriting the U.S. tax code.

The Senate bill reduces the deficit by $420 billion, the CBO said, compared with the $321 billion in deficit reduction in an earlier version, giving Republican leaders additional money they can use to court holdout votes. Much of the increased funding comes from a decision to no longer cut taxes on the wealthy.

A properly designed and implemented construction tax planning analysis will proactively identify tax savings related to new and planned construction projects.

Senate Republicans dropped efforts to eliminate three Obamacare taxes on the wealthy in their latest health-care bill—but the party may revive that push in a tax-overhaul plan later this year.

The president's plan would mostly benefit the highest-income taxpayers, according to the Tax Policy Center.

We favor Americans adopting American children from foster care when feasible, but current U.S. tax law benefits domestic and foreign adoptions.

Senate Republican leaders dropped provisions that would repeal two taxes on high earners in a revised draft of their health-care bill sent to the Congressional Budget Office, according to GOP senators.

The White House is “absolutely committed” to getting its tax overhaul proposal through Congress by the end of the year—and that plan won’t include a 40 percent tax rate for the richest Americans, Treasury Secretary Steven Mnuchin said.

Four days before the one-year anniversary of the release of his tax blueprint, House Speaker Paul Ryan delivered a pep-talk seeking to assuage growing doubts about the prospects for a major tax overhaul.

The top Democrat on the tax-writing Senate Finance Committee said a bipartisan tax deal is impossible if Treasury Secretary Steven Mnuchin can’t commit to an overhaul that avoids giving the highest-earning Americans a tax cut.

U.S. tax revenue is running as much as $70 billion behind estimates more than halfway through the fiscal year, leaving the government with less cash than planned and adding to pressure on Congress to raise the debt ceiling.

Congressional Democrats might abandon their calls for raising the nation’s debt limit without any conditions, with House and Senate party leaders now discussing whether to use their leverage to try to prevent Republicans from enacting tax cuts for wealthy Americans.

A pledge not to give the wealthiest Americans an absolute tax cut is coming back to haunt Treasury Secretary Steven Mnuchin.

Trump's budget aims to cut approximately $3.6 trillion in spending, in part from eligibility changes for the Earned Income Tax Credit and Child Tax Credit.

Treasury Secretary Steven Mnuchin said that he can’t guarantee that the White House’s goal of no tax cuts for the wealthiest earners will survive the legislative debate.

CPAs and their business clients and corporate tax departments need to consider different scenarios for the possible corporate tax reforms now being weighed in Congress.

High-net-worth individuals coming to the U.S. need good planning advice.

Many of the president's "core principles" were similar to promises he made on the campaign trail, including a reduction to 15% in the rate for businesses.

President Donald Trump's tax overhaul plan was short on specifics, but one proposal was clear enough to draw howls from residents of high-tax states. The plan would end deductions of state and local taxes from federal income taxes. Those are by far the biggest deductions for many taxpayers.

Taking a cue from the failed Repeal and Replace healthcare process, the Trump administration Wednesday released a broad outline of its tax reform plan, with many details to be spelled out in legislative form during negotiations with Congress.