Tax Strategies

The House passed tax reform legislation Thursday by a vote of 227-205, with 13 Republicans voting against the bill, as the Senate Finance Committee continued debating and marking up a significantly different version of the bill.

Ireland is set to miss a deadline to hire managers for Apple Inc.’s tax billions during an appeal of a European Union antitrust ruling, the latest delay in a saga that has dragged on for more than a year.

Treasury Secretary Steven Mnuchin is mounting a cross-country roadshow to persuade businesses and the Republican faithful to put their weight behind a proposed tax overhaul from the Trump administration that so far lacks broad public support.

President Donald Trump is confident that House Republican leaders have the votes to pass their version of a tax overhaul, and he’ll thank members of the GOP conference and field their questions on a visit to the Capitol this morning, a senior administration official said.

In Vanuatu, a remote archipelago in the South Pacific, a popular tourist attraction is something called land diving. Villagers on the lush outer island of Pentecost jump headfirst from a tall wooden tower with tree vines tied to their ankles to break their fall. For the divers, the rite of passage is a plunge into the unknown—and that’s not a bad metaphor for where this secretive tax haven is headed these days.

Here are the latest developments, updated throughout the day.

House Speaker Paul Ryan said temporary provisions in the GOP tax bill won’t really go away in a few years—he predicted that future Congresses will preserve them, and he didn’t mention the impact that would have on the federal deficit.

U.S. companies that make billions of dollars from patents and other intellectual property held offshore would be eligible for a special 12.5 percent tax rate on those earnings under the Senate tax plan.

Startups and venture capitalists rarely get worked up over laws before they pass, but the tax plan currently winding its way through Congress is causing an uproar in Silicon Valley.

The American Institute of CPAs is reacting to Senate Republicans’ tax reform plan with its own set of priorities.