Tax

The Internal Revenue Service has proposed regulations allowing truncated Taxpayer Identification Numbers on the Form W-2 to help protect people’s Social Security Numbers from identity theft.

Senate Finance Chairman Orrin Hatch is downplaying the prospect that the White House and congressional Republican leaders will be able to deliver a unified framework for tax legislation next week, as other officials have promised.

The European Commission will outline on Thursday different options for taxing digital companies as the 28-nation bloc seeks to raise money from an industry that it says provides less than it should to public coffers.

A group of U.S. business executives called for Congress to cut the corporate tax rate as low as possible and end the current global approach in which companies’ profits are taxed no matter where they’re earned.

Senators Bob Corker and Pat Toomey, two Republican members of the Senate Budget Committee, said they have agreed to a tentative deal to craft a budget that would allow “headroom” for a significant tax cut, though they didn’t specify the size of the reduction.

Victims of Irma are getting more help from the Internal Revenue Service.

The Senate Finance Committee held a hearing Tuesday to discuss reforming the business tax code and heard from a group of panelists, including a representative of the American Institute of CPAs.

Proposals in Washington could seriously disadvantage one of the most common forms of business.

The U.S. lost $510 billion in business assets that were acquired by foreign companies from 2004 to 2016 in part because its corporate income tax rate exceeds other countries’, according to a study released Tuesday by a group of top U.S. business leaders.