tax code

Trump Tax Fight With House Put on Hold for McGahn Ruling

Trump Tax Fight With House Put on Hold for McGahn Ruling

House Democrats’ lawsuit seeking President Donald Trump’s federal tax returns was put on hold as a judge said he’s waiting for a higher court’s ruling in a separate case on whether Congress can make
IRS May Be Unaware of 9,774 Political Non-Profits, Watchdog Says

IRS May Be Unaware of 9,774 Political Non-Profits, Watchdog Says

There are 9,774 politically-active tax-exempt organizations that may have failed to notify the Internal Revenue Service of their existence or submit the paperwork to operate tax-free, according to a
AbbVie Moves Allergan Profits to U.S. in Partial GOP Tax Law Win

AbbVie Moves Allergan Profits to U.S. in Partial GOP Tax Law Win

Allergan Plc, the drugmaker that emigrated to Ireland to avoid U.S. taxes in 2015, is now coming home -- at least partially.
SALT Cap Sparks Debate Over Which Party Cares About the Middle Class

SALT Cap Sparks Debate Over Which Party Cares About the Middle Class

The debate about the cap on federal deductions for state and local taxes has flipped the tables for lawmakers: Democrats are advocating for a large cut that would primarily benefit the wealthy.
Trump's Tax Cuts Could Die the Hard Way: A Little at a Time

Trump's Tax Cuts Could Die the Hard Way: A Little at a Time

Democratic presidential candidates like Joe Biden and Kamala Harris have talked about repealing the GOP’s tax overhaul. Yet a large-scale rollback is unlikely. Instead, two other forces could slowly
Brussels Edition: Oh, Vienna

Brussels Edition: Oh, Vienna

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union. Sign up here to get it in your inbox every weekday morning.
A Trump Tax Return Standoff Would Be ‘Uncharted Territory,’ Expert Says

A Trump Tax Return Standoff Would Be ‘Uncharted Territory,’ Expert Says

The U.S. government would be in “uncharted territory” if Treasury Secretary Steven Mnuchin were to block a House request to release President Donald Trump’s tax returns, a law professor told a
Read Nancy Pelosi’s statement on the court ruling striking down the Affordable Care Act

Read Nancy Pelosi’s statement on the court ruling striking down the Affordable Care Act

The Affordable Care Act was overturned Friday night (Dec. 14) by a federal judge in Texas, who declared it unconstitutional in light of recent changes…
Are You Playing by the Rules of the Rich?

Are You Playing by the Rules of the Rich?

This post Are You Playing by the Rules of the Rich? appeared first on Daily Reckoning. My rich dad would say, “If you want job security, follow your dad’s advice, if you want to be rich, you need to
People who owe $15,000 in taxes won’t be able to leave China

People who owe $15,000 in taxes won’t be able to leave China

It’s not just Fan Bingbing who China is after. After the country’s biggest actress was ensnared in a crackdown on tax evasion—resulting in a 890…
The 401(k) is forty and fabulous

The 401(k) is forty and fabulous

The 401(k) turns 40 today (Nov. 6). What started off as a small provision in the 1978 Revenue Act to supplement defined benefit plans—its name…
Cuomo Attacks Trump Plan for Capital Gains Tax Cut

Cuomo Attacks Trump Plan for Capital Gains Tax Cut

New York state will stop basing its capital gains tax on federal government regulations if President Donald Trump follows through on his proposed unilateral change in how the levy is determined,
IRS Counsel Nominee Briefly Advised Trump Organization on Taxes

IRS Counsel Nominee Briefly Advised Trump Organization on Taxes

President Donald Trump’s nominee for chief counsel of the Internal Revenue Service briefly advised the future president’s real estate company on a tax question several years ago.
GOP’s New Tax-Cut Framework Leaves Out Fixes for Retailers, #MeToo Victims

GOP’s New Tax-Cut Framework Leaves Out Fixes for Retailers, #MeToo Victims

House Republicans unveiled a broad outline on Tuesday for their next phase of tax code changes, which steered clear of correcting technical mistakes from last year’s overhaul.
Tax Loophole From 1960s Could Let Wealthy Tap 21% Corporate Rate

Tax Loophole From 1960s Could Let Wealthy Tap 21% Corporate Rate

An obscure tax provision from the 1960s that was left untouched by President Donald Trump’s overhaul could let wealthy individual investors seize for themselves the largest corporate tax cut in U.S.
The Tax Dodge That Cost the German Treasury Billions

The Tax Dodge That Cost the German Treasury Billions

Prosecutors say dozens of banks and brokerage houses helped investors create massive returns for nearly a decade.
IRS Nominee Says He’s Never Had a Client Under Audit for a Decade

IRS Nominee Says He’s Never Had a Client Under Audit for a Decade

Charles Rettig, a tax lawyer who is Donald Trump’s pick to lead the IRS, told lawmakers Thursday he’d never represented a client who has been under a continuous agency audit for a decade, as is the
In the Year of the Woman, These Are the Races to Watch

In the Year of the Woman, These Are the Races to Watch

From Democrat Kyrsten Sinema's bid for Jeff Flake's Senate seat to Republican Barbara Comstock's toughest challenge ever as the GOP tries to hang on to the House.
Australia's $20 Billion Missed Opportunity Shows Tax Problem

Australia's $20 Billion Missed Opportunity Shows Tax Problem

A Santos Ltd. pilot well operates on a farm property in Narrabri, Australia, on Thursday, May 25, 2017. A decade after the shale revolution transformed the U.S. energy landscape, Australia — poised to
House to Vote This Year on Individual Tax Cut Extension, Ryan Says

House to Vote This Year on Individual Tax Cut Extension, Ryan Says

The House will hold a vote this year to make individual tax cuts permanent, according to House Speaker Paul Ryan.