Tax deductions

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.

The IRS has released a draft of the form for the 2017 tax year.

The GOP show of unity will allow reform to pass on a party-line vote.

The standard deductions and personal exemptions will rise slightly.

The deduction for state and local taxes could be a major stumbling block for reform.

When the extent of their losses becomes clear, hurricane victims will want to know what tax help they're entitled to.

Congressional leaders expect heavy lifting ahead.

Trump isn’t tied to eliminating the break, which is popular in states with high rates, like New York, New Jersey and California.

By 2027, almost 30 percent of individuals with incomes between $50,000 and $150,000 would see their taxes rise under the elements of a Republican framework for tax legislation released this week, according to an analysis released Friday by the Urban-Brookings Tax Policy Center.

The House passed legislation Thursday that provides some tax relief to victims of the recent spate of hurricanes.

President Donald Trump’s tax plan suggests that wealthy Americans could be in line for a boatload of breaks. At this point, the rich aren’t buying it.