Finance, investment and tax-related legislation

Lawmakers in the House and Senate have introduced bipartisan legislation to give the Internal Revenue Service more authority to provide tax relief for taxpayers who have to make tax payments or file their taxes after a state-declared natural disaster occurs near the deadline.

The bipartisan legislation will provide more retirement planning options for accountants to advise small business clients about, while also fixing a glitch in the Tax Cuts and Jobs Act that imposed the kiddie tax on children of deceased service members.

The U.S. House of Representatives approved legislation that relaxes the rules for retirement savers and corrects an unintended side-effect of the 2017 tax law that hit children of military members who died in combat with higher-than-expected tax bills.

Democratic presidential candidate Bernie Sanders introduced legislation that would impose a tax on trades of all stocks, bonds and derivatives in the U.S., a move he says would help curb Wall Street speculation and help finance his campaign promise to provide tuition-free college and cut student debt.

The American Institute of CPAs dispatched hundreds of CPAs to lobby their state and local lawmakers on Capitol Hill this week in conjunction with the AICPA’s Spring Meeting of Council in Washington, D.C.

Republicans and Democrats will be working on the perennial problem of what to do about the temporary tax breaks that need to be renewed every few years.

Extension a tax incentive for electric vehicle purchases could cost up to $15.7 billion, according to an analysis prepared by opponents.

The bipartisan legislation aims to expand retirement savings by offering more tax incentives to individuals and small businesses.

A bipartisan group of lawmakers has introduced legislation to offer tax relief to children who have lost a parent serving in the military after recent reports that “Gold Star” families are facing unexpectedly heavy tax bills because of the implications of a provision in the Tax Cuts and Jobs Act.

Three bills that would make major change have already emerged from the Ways & Means Committee.

The Senate looks to ease the burden on taxpayers who travel to work in multiple states.

Low-income and minority taxpayers were more likely to use extra-fee tax preparation offerings like refund advances and refund transfers, according to a new report Friday from the Government Accountability Office, and tax preparers often didn’t present them with information about the fees ahead of time.

Sen. Ron Wyden, D-Ore., and Ben Cardin, D-Md., introduced legislation Thursday to require minimum standards for paid tax preparers and rescind Preparer Tax Identification Numbers of incompetent and fraudulent practitioners.

The Democratic presidential candidate rolled out a proposal to levy a 7 percent tax to raise an estimated $1 trillion from the wealthiest businesses.

A bipartisan group of senators introduced legislation that would extend a lucrative tax break that could benefit Tesla and GM.

The House passed bipartisan legislation Tuesday to overhaul some key aspects of the way the Internal Revenue Service operates, including the appeals process.

A bipartisan group of senators has introduced legislation to make permanent the Work Opportunity Tax Credit, a tax break that encourages companies to hire veterans, people with disabilities and other groups who face barriers to employment, before it expires at the end of the year.

Republican and Democratic lawmakers in the Senate and House have teamed up to introduce bipartisan legislation to assist tax-exempt cooperative organizations.

The House Ways and Means Committee voted to approve legislation that would relax the rules for those saving for retirement.

The top Democrat on the Senate Finance Committee, Ron Wyden, is reviving a plan that would tax wealthy individuals annually on their investments, instead of when those assets are sold.