Tax

The Internal Revenue Service may be facing steep cuts in its budget with the win on Tuesday night of President-elect Donald Trump.

Illinois voters approved a nonbinding proposal to add an extra 3% levy on annual incomes of more than $1 million, which could fuel a new effort to raise taxes on the state's highest earners.

Donald Trump is returning to the White House, and the U.S. economy is in for a wild ride.

A complex mixture of new or expiring laws, intersecting retirement planning questions and the threat of so-called stealth taxes could add up to a highly beneficial strategy.

With 2025 nearly here, year-end tax strategies including gifting, charitable donations, estate planning, retirement plans and more are on the table.

The GOP defeated Banking Chairman Sherrod Brown in Ohio, fended off an unexpectedly tough challenge to Nebraska' Deb Fischer and picked up the open Senate seat in West Virginia.

The return of the former president to the White House gives him an opportunity to deliver on his many tax promises.

The final regulations provide a long overdue update to rules that had been in place since at least the 1950s, and even the 19th century.

Updating engagement letters; tax neutrality; the usual losers; and other highlights from our favorite tax bloggers.

Bloomberg Tax and Accounting announced a new strategic partner program with major tax prep software providers in order to expand the set of available tools for users.