Tax planning

The White House is “absolutely committed” to getting its tax overhaul proposal through Congress by the end of the year—and that plan won’t include a 40 percent tax rate for the richest Americans, Treasury Secretary Steven Mnuchin said.

Four days before the one-year anniversary of the release of his tax blueprint, House Speaker Paul Ryan delivered a pep-talk seeking to assuage growing doubts about the prospects for a major tax overhaul.

The top Democrat on the tax-writing Senate Finance Committee said a bipartisan tax deal is impossible if Treasury Secretary Steven Mnuchin can’t commit to an overhaul that avoids giving the highest-earning Americans a tax cut.

U.S. tax revenue is running as much as $70 billion behind estimates more than halfway through the fiscal year, leaving the government with less cash than planned and adding to pressure on Congress to raise the debt ceiling.

Congressional Democrats might abandon their calls for raising the nation’s debt limit without any conditions, with House and Senate party leaders now discussing whether to use their leverage to try to prevent Republicans from enacting tax cuts for wealthy Americans.

A pledge not to give the wealthiest Americans an absolute tax cut is coming back to haunt Treasury Secretary Steven Mnuchin.

Trump's budget aims to cut approximately $3.6 trillion in spending, in part from eligibility changes for the Earned Income Tax Credit and Child Tax Credit.

Treasury Secretary Steven Mnuchin said that he can’t guarantee that the White House’s goal of no tax cuts for the wealthiest earners will survive the legislative debate.

CPAs and their business clients and corporate tax departments need to consider different scenarios for the possible corporate tax reforms now being weighed in Congress.

High-net-worth individuals coming to the U.S. need good planning advice.

Many of the president's "core principles" were similar to promises he made on the campaign trail, including a reduction to 15% in the rate for businesses.

President Donald Trump's tax overhaul plan was short on specifics, but one proposal was clear enough to draw howls from residents of high-tax states. The plan would end deductions of state and local taxes from federal income taxes. Those are by far the biggest deductions for many taxpayers.

Taking a cue from the failed Repeal and Replace healthcare process, the Trump administration Wednesday released a broad outline of its tax reform plan, with many details to be spelled out in legislative form during negotiations with Congress.

Traders are about to get an idea of how far the president will go to stimulate the economy, after months speculating over the timing and size of his tax plan.

The president will call for cutting taxes for individuals and lowering the corporate rate to 15 percent after briefing GOP leaders.

As taxpayers and tax professionals race to finish up their tax returns by April 18, or opt to file for an extension, there are still a few last-minute things they can do, along with plenty to think about for next year.

The traditional family is no longer so traditional. Increasingly children are living in blended families, bringing complex tax issues to their parents’ accountants.

Leaked pages of President Donald Trump’s 2005 tax return offer no new details about his foreign income and business dealings but highlight a tax he’s vowed to abolish.

Accountants can help clients achieve their philanthropic goals while preparing their taxes.

A municipal bond investor doesn’t think the president and the Republican-led Congress will do away with the incentive given to buyers of state and local government debt.