Tax strategies

President Donald Trump’s pledge to repeal Obamacare ran into a Republican buzz saw. Now, his ambitious proposal to cut taxes is again encountering GOP opposition—from lawmakers in Democratic-leaning states.

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.

Treasury Secretary Steven Mnuchin confirmed the administration will propose a corporate tax rate reduction to 15 percent and said lawmakers broadly agree on the need for a tax overhaul, citing a “very successful meeting” on Tuesday evening in Washington.

President Donald Trump’s expected call to slash the corporate tax rate to 15 percent—a number that many economists say would boost the deficit so much that the cut would be short-lived—may be less about policy and more about deal-making.

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’s plan to slash the rate to 15 percent is setting up a showdown with the House Speaker, who has called for a tax plan to pay for itself.

Even without any specific tax-reform proposals, President Donald Trump’s pledge to revamp U.S. policies is already affecting the solar industry, and not in a good way.

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.

Rep. Lloyd Doggett, D-Texas, and Sen. Sheldon Whitehouse, D-R.I., have introduced legislation to discourage the use of corporate tax havens.

The Internal Revenue Service is relaunching the much criticized private debt collection program this month after Congress required it to do so as part of legislation passed at the end of 2015.

An academic study has found that companies located in proximity to a regional office are more likely to be scrutinized.

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.

President's daughter has urged lawmakers writing a tax overhaul to include a deduction that comes with a hefty price tag.

Lawmakers are questioning the Secretary of State about his agreement with the energy giant where he was formerly chairman and CEO.

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.

As lawmakers in Congress mull the real possibility of a tax overhaul, various proposals are being debated before legislation is introduced.