Tax Strategies

Donald Trump's promise to strip Harvard University of its tax-exempt status prompted criticism from former IRS commissioner Charles Rettig.

Trump posted the announcement after weeks of threatening an Internal Revenue Service review of the Ivy League's tax-free treatment.

Key House Republicans discussed ways to direct an expanded state and local tax deduction to those making less than $400,000.

Republican lawmakers pushing for the expansion of the state and local tax deduction are slated to meet with House Speaker Mike Johnson about the $10,000 cap.

To get the capital gains break, the Commerce secretary must invest the proceeds of the sales in Treasury bonds or diversified exchange-traded or mutual funds.

President Donald Trump said he is open to the idea of higher taxes on millionaires but worries that a levy increase could hurt the party.

U.S. tax professionals can learn from strategies in other countries like Brazil.

Trump's remarks are likely to pour cold water on discussions about creating a new 40% tax bracket for people earning $1 million or more.

The university sued several U.S. agencies and top officials for freezing billions of dollars in federal funding and threatening its tax-exempt status.

The Budget Lab at Yale projects that taxing income over $1 million at a 40% rate would generate $420 billion over a decade.