Latest in Tax Deduction
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SALT income-tax-deduction cap could double under Trump 2.0. But maybe not for the rich.
Trump economic adviser Steven Moore floats raising the cap — put in place, in the first place, in the first year of Trump’s initial White House term — from $10,000 to $20,000.MarketWatch - 14h -
Trump's tax plan is uncertain for 2025 — here are key lessons from his 2017 tax overhaul
Trillions in Trump's tax cuts will expire after 2025 without action from Congress. Here are key lessons from his 2017 tax overhaul.CNBC - 2d -
Freedom Caucus says taxes come second
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Freedom Caucus backs strategy for Trump The hardline conservative House Freedom ...The Hill - 3d -
Many Americans face tax increases in 2026 if tax cuts are not passed
Many Americans will face a tax increase in 2026 if the 2017 tax cuts are not extended, according to a new analysis by the Tax Foundation. Richard Rubin, a U.S. tax policy reporter for the Wall ...CBS News - 3d -
Middle and higher earners face increasing tax burden
Budget measures combine with legacy ones to raise tax billsFinancial Times - 3d -
Republicans clash over 'SALT' deduction as they seek to extend Trump's tax law
Some House Republicans are demanding an increase to SALT deduction in order to support an extension of President-elect Donald Trump's tax law next year.NBC News - 4d -
Treasury expands language for IRA biogas tax credit
The Treasury Department’s rule for implementing the Inflation Reduction Act’s (IRA) renewable energy tax credits will incorporate new language that will provide greater benefits for operations that ...The Hill - 4d -
Australia to introduce ‘news tax’ on tech companies
Move is designed to close loophole after Meta walked away from existing deal to use media contentFinancial Times - 4d -
Thune expects tax package by summer: 'Failure is not an option'
Incoming Senate Majority Leader John Thune (R-S.D.) reaffirmed his objective to prioritize swift tax reform in the 119th Congress as well as legislation supporting border security and the energy ...The Hill - 5d -
Business leaders warn Reeves about the impact of her Budget tax rises
Banking, energy and transport executives voice concerns in meeting with UK chancellorFinancial Times - 5d -
Consult us on inheritance tax, farmers urge PM
Farmers driving tractors stage another protest against the Budget changes in central London.BBC News - 5d -
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Farmers gather in Whitehall in latest protest against UK Budget tax changes
Tractors park up in main London thoroughfare in rally opposing government inheritance tax reformsFinancial Times - 5d -
Biden Says Trump’s Tax Cuts and Tariffs Would Be ‘a Major Mistake’
The president also said his successor would face blowback from the Republican Party if he tried to unwind the Biden agenda.The New York Times - 6d -
Adidas' German headquarters raided in connection with tax investigation
Adidas' German headquarters was raided as authorities investigate a yearslong tax concern.CNBC - 6d -
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Tax Cuts Were Top of Mind at the Tax Foundation’s Annual ‘Prom’
Republican control of Washington and a tax bill next year have corporate America excited — and on edge.The New York Times - 6d -
Senate Democrats gauging interest in bill to extend tax benefits to Taiwanese companies
Senate Democrats are considering a bill to give tax breaks to Taiwanese companies, gauging interest in using a fast-track process to pass it into law. The tax benefits for Taiwan were included as ...The Hill - Dec. 9 -
That Roth IRA conversion comes with a tax bill — here's how to pay for it
If you're eyeing a year-end Roth IRA conversion, you'll need to plan for the upfront tax bill. Here are some strategies to manage your taxes, experts say.CNBC - Dec. 9 -
Trump's tariffs: A tax on American consumers
President-elect Donald Trump has promised to impose across-the-board tariffs on imported goods from some allies and adversaries, claiming that foreign nations will pay such taxes to the U.S. ...CBS News - Dec. 8 -
No plan for more tax rises but we can't rule it out - Starmer
The PM says voters can judge him at the next general election on whether their living standards have improved.BBC News - Dec. 6 -
UK’s largest estates pay an average of £9mn in inheritance tax
Wealthiest estates face prospect of higher rates of liability following the BudgetFinancial Times - Dec. 6 -
No need for 'large' council tax hikes - Robison
The finance secretary says a record funding deal should prevent an increase - but the decision will rest with local authorities.BBC News - Dec. 5 -
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Number of people caught in 60% ‘tax trap’ up 45% in two years
Rise for taxpayers earning more than £100,000 blamed on frozen thresholds and wage inflationFinancial Times - Dec. 5 -
Trump’s populist 'mandate' could disrupt business tax reform wish list
Congress, and the GOP, has changed since then-President Trump and Republicans crafted the 2017 Tax Cuts and Jobs Act. And while Speaker Mike Johnson (R-La.) and GOP leadership are gunning to get a ...The Hill - Dec. 5 -
Top Republicans collide on strategy for Trump tax agenda
House and Senate Republicans are clashing over how to advance President-elect Trump's tax agenda after incoming Senate Majority Leader John Thune (R-S.D.) offered a plan that would put off tax ...The Hill - Dec. 5 -
How Jensen Huang, CEO of Nvidia, Is Avoiding Billions in Taxes
The chief executive of Nvidia, Jensen Huang, has taken advantage of popular loopholes in the federal estate and gift taxes, which have quietly been eviscerated.The New York Times - Dec. 5 -
Ireland urged to set aside more of its corporate tax windfall
Country’s independent fiscal watchdog calls for Norwegian-style approach to saving surplus cashFinancial Times - Dec. 5 -
What happens if Trump ends the electric vehicle tax credit?
President-elect Donald Trump has signaled he wants to end the $7,500 tax credit for electric vehicle buyers. Albert Gore III, executive director of the Zero Emission Transportation Association, ...CBS News - Dec. 4 -
Trump Tax Cuts Won’t Help the Economy Grow, Budget Office Finds
A larger debt and higher interest rates would cancel out the boost from keeping individual taxes lower, the nonpartisan Congressional Budget Office found.The New York Times - Dec. 4 -
Deutsche Bank chief calls for relief on regulation and ‘rethink’ on tax
Call comes amid discontent with Germany’s ruling coalition ahead of snap election in FebruaryFinancial Times - Dec. 4 -
These parts of Trump's tax cut law expire in 2026
The 2017 Tax Cuts and Jobs Act (TCJA) made huge permanent cuts to corporate and business taxes while making temporary cuts to individual taxes to limit the bill’s expansionary effects on the ...The Hill - Dec. 4 -
Judge in Hunter Biden's tax case accepts pardon despite calling it 'unconstitutional'
Two days after President Biden issued a blanket pardon to his son Hunter Biden, the younger Biden's federal gun case has been terminated by the judge overseeing the case.ABC News - Dec. 3 -
Judge in Hunter Biden tax case rebukes president’s claims of unfair treatment
The federal judge overseeing Hunter Biden’s tax case issued a sharp rebuke of President Biden’s claims his son was unfairly prosecuted in new court filings Tuesday night. U.S. District Judge Mark ...The Hill - Dec. 4 -
Thune lays out plan for separate border and tax reconciliation bills
Incoming Senate Majority Leader John Thune (R-S.D.) laid out an ambitious plan at the Senate Republican retreat Tuesday for Congress to move first next year on a budget reconciliation package that ...The Hill - Dec. 3 -
Hospital group launches ad campaign for disaster relief tax credits
A major hospital trade group launched a six-figure ad campaign this week calling on Congress to extend disaster relief tax credits that the group says will help facilities recover from hurricanes ...The Hill - Dec. 3 -
Mega Millions jackpot hits $541M: What's the tax bill?
Someone could become a millionaire Tuesday night.The Hill - Dec. 3 -
7 tips from a tax influencer as she approaches retirement at 70
Phyllis Jo Kubey is still on a continuing education journey as retirement loomsMarketWatch - Dec. 3 -
Special counsel objects to dismissing Hunter Biden tax case after pardon
Special counsel David Weiss rejected suggestions that he selectively prosecuted Hunter Biden in court filings where he also objected to dismissing charges following a sweeping pardon. President ...The Hill - Dec. 2
