Tax Strategies

High-earning taxpayers would face much smaller tax hikes — or even cuts — if Democrats decide to restore the federal deduction for state and local taxes in legislation that’s now moving through the House.

President Biden plans to urge Democrats to unite, focusing on the struggles of middle class families.

Two of the most generous tax loopholes are on the chopping block, the latest surprise in emerging tax increases.

Expensify Card now offers cash back, and Corvee launches tax planning strategy deep dive webinar series.

The biggest set of U.S. tax increases in a generation took a major step forward on Wednesday.

The proposal to end the step-up in basis was already facing obstacles before it was left out of draft legislation.

The high inflation amounts that households and businesses have been experiencing this year are likely to lead to larger increases in tax brackets and other inflation-adjusted tax items in 2022.

House Democrats are considering a two-year repeal as one of their potential paths to undoing the $10,000 cap on the federal deduction for state and local taxes.

President Joe Biden’s push to ramp up taxes on the wealthy is getting diluted by his Democratic allies in Congress, undermining his chances of fully delivering on his 2020 campaign pledge to curb America’s widening inequality.

The bipartisan infrastructure bill includes requirements for brokers to report their customers’ cryptocurrency gains to the Internal Revenue Service, but exactly what constitutes a broker is stirring controversy.