Tax

The Senate Finance Committee chairman's legislation would streamline the 199A deduction for qualified business income, allowing accountants, lawyers, doctors and others to qualify, but phasing out above $400,000.

The pandemic and financial crimes; another provider leaves; why CRM and accounting don’t mix; and other highlights from our favorite tax bloggers.

Securities-based lending is up sharply as wealthy investors leverage gains in their stock portfolios into low-interest loans for pricey purchases.

So far, the Speaker of the House has been relegated to the sidelines in the stalled Senate debate over a $3.5 trillion budget blueprint.

The bill would expand eligibility for the “pass-through” deduction to lawyers, accountants or doctors making above certain income thresholds.

Intuit has decided to leave the Free File Alliance after coming under criticism for making it difficult to access a truly free version of TurboTax.

The Internal Revenue Service has begun offering online Tax Pro Accounts that practitioners can use for submitting an authorization request to an individual client’s own taxes online with the IRS.

The Senate Majority Leader will take a preliminary step Monday that would lead to a first test vote on the infrastructure plan by Wednesday. He set the same day as a deadline for all Senate Democrats to unite behind a budget blueprint.

The increased funding for the IRS as a way to boost tax revenue was dropped after it emerged that Democrats intend to include the measure in their bigger budget bill.

The Internal Revenue Service’s Office of Chief Counsel posted a memorandum on cost-sharing agreements with reverse clawback provisions and their implications for transfer pricing arrangements and stock-based compensation.