taxes

WASHINGTON —  Members of the recently-formed bipartisan State and Local Tax Caucus are urging their colleagues to support legislation removing the SALT deduction cap, arguing it will provide often neglected middle-class Americans with needed financial assistance.  The bill, the Securing... Read More

WASHINGTON — The change in House leadership next year is likely to renew the long-running congressional debate over how to fix problems that have plagued the National Flood Insurance Program for decades and make it better able to deal with... Read More

WASHINGTON — The House on Friday afternoon gave its approval to the Inflation Reduction Act, delivering a significant victory to President Joe Biden. The final vote was 220-207, along party lines. Four Republicans did not vote. In a tweet from... Read More

NEW YORK (AP) — Former President Donald Trump sued New York Attorney General Letitia James on Monday, resorting to a familiar but seldom successful strategy as he seeks to end a yearslong civil investigation into his business practices that he alleges is... Read More

DALLAS -- A Texas attorney filed a lawsuit and a request for a temporary restraining order on Monday to block the enforcement of new abortion restrictions passed by the Texas legislature during its regular session earlier this year. The restrictions... Read More

WASHINGTON -- The Senate has passed both the $1.5 trillion bipartisan infrastructure bill and the framework of the $3.5 trillion budget reconciliation bill made up largely of potential investments in social programs and climate policy. While these massive budgetary items... Read More

WASHINGTON - Of all the uncertainties growing from the prolonged negotiations over President Joe Biden’s American Families plan, the most potentially vexing for the American businesses and the economy are several proposed changes to the U.S. tax code. Though much... Read More

WASHINGTON - The U.S. Supreme Court on Monday rejected an effort by former President Donald Trump to shield his income tax records from N.Y. prosecutors. The court’s action is the apparent culmination of a lengthy legal battle that had already... Read More

SACRAMENTO, Calif. (AP) — Unemployment agencies across the country were bombarded with so many claims during the pandemic that many struggled to distinguish the correct from the criminal. Now, simple tax forms — barely enough to fill a half-sheet of... Read More

About Kim: Young Kim came to this country as an immigrant and through hard work and determination achieved the American Dream. As an immigrant, small-business owner, and mother, Kim spent her career fighting to give all Americans a chance to... Read More

WASHINGTON (AP) — It may be an odd gesture at a time of social distancing, but President Donald Trump is leaning into his plea to Congress to restore full tax benefits prized by business for fine dining and schmoozing. Trump... Read More

CHICAGO — Recreational marijuana sales in Illinois generated more than $10 million in tax revenue in January, according to the Illinois Department of Revenue. The state collects sales tax and a cannabis excise tax on recreational marijuana sales. January sales... Read More

WASHINGTON - House Democrats voted to lift a $10,000 limit on state and local tax deductions, known as SALT, repealing a deduction limit Republicans had imposed as part of their 2017 tax code overhaul. The bill, H.R.5377 , which was... Read More

WASHINGTON  — The 2nd U.S. Circuit Court of Appeals on Tuesday ruled Congress is entitled to review President Donald Trump's banking records as it investigates possible foreign influence in U.S. elections, violations of the emoluments clause and other issues. The... Read More

WASHINGTON - Four states are appealing a federal judge’s September dismissal of their lawsuit challenging federal authority to limit state and local tax deductions. In a filing before the 2nd U.S. Circuit Court of Appeals, attorneys for the states argue... Read More

WASHINGTON —  Chief Justice John Roberts on Monday imposed an indefinite delay in the House of Representatives’ demand for President Donald Trump’s financial records. Roberts’ order Monday provides no hint about how the Supreme Court ultimately will resolve the dispute.... Read More

WASHINGTON — A U.S. appeals court in Washington denied President Donald Trump’s request that it reconsider an earlier three-judge panel ruling refusing to quash a demand by House Democrats for records at Trump’s accountants Mazars USA LLP. Congress issued the... Read More

WASHINGTON - California Governor Gavin Newsom signed a law Tuesday that would require President Trump -- or any other candidate -- to disclose their tax returns in order to appear on California's primary ballot. The law, which was introduced by... Read More

WASHINGTON - President Donald Trump sued the House Ways and Means Committee and New York State's attorney general and tax commission in a bid to block them from sharing his state tax returns. In a federal lawsuit filed in Washington,... Read More

Texas Governor Greg Abbott has signed a pair of bills extending a property tax abatement that helped make the state a wind and solar energy powerhouse while also providing greater transparency for the program. The extension of the tax abatement,... Read More

Representative Richard Neal, D-Mass., chairman of the House Ways and Means Committee Friday issued subpoenas for six years of President Donald Trump's tax returns. The subpoenas give Treasury Secretary Steven Mnuchin and IRS Commissioner Charles Rettig until 5 p.m. next... Read More

New York State's Democrat-controlled Senate Wednesday easily approved a bill that would allow three congressional committees to review President Donald Trump's state tax returns. The vote was 39-21. The bill, which now must be approved by New York's Democrat-controlled Assembly,... Read More

The Internal Revenue Service missed a 5 p.m. Tuesday deadline to hand copies of President Donald Trump's personal and business tax returns over to Congress, setting the stage for a potentially lengthy legal battle. In a letter to House Ways... Read More

The chairman of the House Ways and Means Committee Wednesday formally requested that the Internal Revenue Service turn over six years of President Donald Trump's personal and business tax returns. In a letter to IRS Commissioner Charles Rettig, Representative Richard... Read More