Tax strategies

The Senate Finance Committee chairman's legislation would streamline the 199A deduction for qualified business income, allowing accountants, lawyers, doctors and others to qualify, but phasing out above $400,000.

So far, the Speaker of the House has been relegated to the sidelines in the stalled Senate debate over a $3.5 trillion budget blueprint.

The bill would expand eligibility for the “pass-through” deduction to lawyers, accountants or doctors making above certain income thresholds.

The Senate Majority Leader will take a preliminary step Monday that would lead to a first test vote on the infrastructure plan by Wednesday. He set the same day as a deadline for all Senate Democrats to unite behind a budget blueprint.

Democrats may include at least a partial expansion of the state and local income tax deduction in the $3.5 trillion budget outline that Senate Democrats agreed upon this week.

President Joe Biden urged Senate Democrats to act boldly on his sweeping social and economic agenda Wednesday, as they began hashing out details of an $3.5 trillion tax and spending agreement that marks a crucial step forward for his plan.

Democratic leaders want voters in key states to know which party is responsible for the checks Americans with young children are set to start receiving on Thursday.

Senate Democrats on the Budget Committee agreed to set a $3.5 trillion top-line spending level for a bill to carry most of President Joe Biden’s economic agenda into law without Republican support, bridging divisions — for now — among some party factions.

National tax offices were flooded with more than 500 inquiries a day from their field offices after the 2017 tax law, and a confused response cost some accounting firms clients. What lessons can be learned?

Lawmakers remain divided on the size and scope of the fast-track budget reconciliation bill intended to include a raft of social spending and tax increases.

The European Union said Monday it would postpone its push for a controversial digital levy to focus on a negotiation over a broader minimum global tax deal.

The Treasury Secretary hopes Congress can take up two key portions of a global tax agreement endorsed by Group of 20 finance ministers.

The recent change in presidency is set to bring about substantial changes in the way high-net worth individuals are taxed in relation to capital gains.

The European Union’s digital chief will meet U.S. Treasury Secretary Janet Yellen next week as the EU delayed plans for a digital levy after a potential global tax breakthrough.

The world took a big step toward sweeping changes in taxation setting a minimum rate for corporations along with rules to share the spoils from multinationals.

Financial-services companies are set to be exempt from a global plan to make multinational firms pay more tax to the countries where they operate, in a win for U.K. Chancellor of the Exchequer Rishi Sunak.

Negotiations among more than 100 countries to overhaul global taxation are facing key questions as rich nations seek to persuade many developing economies to reach a preliminary deal in the week and a half.

The administration is aiming at trusts — particularly dynasty trusts, vehicles that wealthy families can use to benefit multiple generations of descendants.

The private equity industry is trying defend a cherished tax break that Democrats have targeted for elimination.

The near doubling of the capital gains tax rate would have a large impact on the net profit from any sale of any capital asset.