Tax

President Trump expressed optimism that lawmakers could reach a compromise on the state and local tax deduction, a sticking point in his "One Big Beautiful Bill."

The Trump administration is privately considering unleashing what advocates and critics agree would be one of its biggest cudgels yet to pressure colleges.

The IRS got a case dismissed from the Tax Court by applying a taxpayer's overpayments to their earlier tax liability.

Private equity in the profession; green cards and exit taxes; governance for preparers; and other highlights from our favorite tax bloggers.

The provision would allow energy companies subject to a 15% corporate alternative minimum tax to deduct certain drilling costs when calculating taxable income.

A group of tax organizations, including the NATP and NAEA, hopes to preserve the core tax functions relied on by tax professionals despite cutbacks at the IRS.

In the age of AI, the professionals who will excel are those who invest as much in empathy, communication and critical thinking as they do in technical skills.

Senate Republicans plan to modify the massive fiscal package to lower maximum deductions for state and local taxes and limit the impact of a "revenge" tax.

Businesses and rich universities scored wins in the Senate version of Trump's tax bill, while low-income Americans and clean energy providers were hit hard.

Private universities with at least 500 students that have endowments of $2 million per pupil or more would pay an excise tax of 8% under the new bill.