Tax deductions

The House tax-writing committee is entering its second day of work Tuesday to hammer out the details of the Republican tax cut plan. Here are the latest developments, updated throughout the day.

President Donald Trump’s planned tax overhaul is likely to boost U.S. economic growth by about a quarter percentage point in 2018, yet it will also dent demand for housing and fail to lower the chances of a recession, according to a Bloomberg News survey.

The House tax-writing committee begins debate Monday on the GOP’s proposed overhaul, kicking off four frantic days for lobbyists and lawmakers to revise a bill that represents President Donald Trump’s final hope for a signature legislative achievement this year.

President Donald Trump and congressional Republicans billed their tax overhaul for months as a benefit primarily for the middle class, but what they delivered Thursday was designed more to favor large corporations and some closely held businesses.

The complexities proposed in the Tax Cuts and Jobs Act gives practitioners plenty to talk to their clients about.

A quick look inside the proposed Tax Cuts and Jobs Act

House Republican leaders began rolling out a tax bill Thursday that contains sweeping changes for business and individual taxes, including a measure to cut the corporate tax rate to 20 percent.

A hectic, confusing day precedes a late-night bill postponement as the timing of the corporate rate and SALT deductions remain in question.

What to look for in the legislative proposal due out Thursday.

Bowing to concerns from Republican House members in high-tax states, the chamber’s chief tax writer said he’ll preserve a federal income-tax break for property taxes.

As Congress moves closer to drafting the details, it's worth revisiting the GOP's Unified Framework.

Republicans are barreling into a lobbying frenzy next week, when House Ways and Means Chairman Kevin Brady plans to unveil a sweeping tax bill to remake the U.S. economy that’s being crafted with rigorous secrecy.

House passage of the Senate budget resolution opens the door to wrangling next week.

The IRS has released a number of draft tax forms, instructions, and related schedules 2017 tax year.

House Republicans narrowly adopted a budget resolution Thursday unlocking a fast-track process to achieve their long-sought goal of cutting Americans’ taxes by the end of the year. The next step will be releasing a draft tax measure as early as Nov. 1.

Congress is trying to ram through a bill that would reshape the U.S. economy in just a few short weeks, but its leaders have kept the plan shrouded in secrecy and released not a word of legislative text.

House Speaker Paul Ryan’s efforts to kill a deduction as part of a Republican tax overhaul would hit very close to home—among his constituents with homes on glistening Geneva Lake in his southeastern Wisconsin district.

House Ways and Means Chairman Kevin Brady said Wednesday he expects to announce a deal with concerned Republicans from high-tax states on the state and local tax deduction “before the bill will be laid out next week.”

The Senate budget agreement moves tax reform back to the other chamber of Congress.

The feud between President Donald Trump and Bob Corker flared up again Tuesday when the Republican senator said the president should stay out of the tax-overhaul effort, expressing concern that the White House has been making it harder for Congress to craft legislation.