Trump tax plan

Simplicity of tax penalties; refund request after five years; amnesty national; and other highlights from our favorite tax bloggers.

U.S. retailers came out swinging against new tariffs that will be imposed against China, saying they represent a $50 billion tax on American consumers.

The omnibus appropriations bill that lawmakers are expected to approve ahead of a Friday deadline to avoid a government shutdown includes extra money for the Internal Revenue Service to implement the Tax Cuts and Jobs Act, while changing a provision in the TCJA that advantaged farm cooperatives over other types of grain companies.

Lawmakers are on the cusp of settling on a $1.3 trillion bill to avoid a government shutdown this weekend after reaching compromises on a fix to the tax law and other issues.

December’s reform law could help drive down the take.

The European Union published proposals Wednesday for a 3 percent Digital Turnover Tax on the European B2B revenues of digital giants such as Google, Apple, Facebook, Amazon (termed GAFA in Europe), Uber and Airbnb.

More rush regulation; figuring reasonable compensation; software versus you; and other highlights from our favorite tax bloggers.

Many preparers report a flood of early clients with questions about tax reform.

A new academic study suggests that the provisions in the Tax Cuts and Jobs Act encouraging companies to repatriate their foreign earnings back to the U.S. at a reduced tax rate could lead to more spending on research and development.

President Donald Trump’s new tax law set off a false alarm for homeowners planning to borrow against their houses.

The Treasury Department issued a strongly worded statement in response to a report from the Organization for Economic Cooperation and Development.

Republicans are looking to act a lot faster than originally expected to keep the new individual tax breaks from expiring in 2025.

A new report from Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, discusses how small businesses will face more uncertainty and complexity from the Republican tax law and will ultimately need help from their accountants to figure out the pass-through deduction.

Tax breaks for individuals should be made permanent in future legislation, according to the incoming White House economic adviser.

The U.S. Chamber of Commerce is asking the Internal Revenue Service for more guidance on the Tax Cuts and Jobs Act, asking for language specifying how qualified business income and limitations on business interest should be defined, among other matters.

Two trade groups representing farmer cooperatives and feed producers have reached an agreement to resolve a technical problem in the Tax Cuts and Jobs Act, with the support of Republican leaders in Congress who hope to include the provision within a larger appropriations bill.

New Jersey Governor Phil Murphy proposed taxing online-room booking, ride-sharing, marijuana, e-cigarettes and internet transactions along with raising taxes on millionaires and retail sales to fund a record $37.4 billion budget that would boost spending on schools, pensions and mass transit.

The Internal Revenue Service provided additional information Tuesday to help corporate taxpayers deal with the new section 965 transition tax for repatriating foreign profits under the tax law that Congress passed in December.

Fewer than four out of 10 taxpayers are happy with President Trump’s recent tax reform law, according to a new survey.

The Treasury recorded a $215 billion shortfall in February—its largest in six years—as revenue declined after passage of the Tax Cuts and Jobs Act.