House Speaker Kevin McCarthy (R-CA) and President Biden recently agreed to cut back on some of the increased IRS funding enacted through last year’s Inflation...
In recent years, businesses have been able to fully deduct expenses related to research and development (R&D) in the year the investment was made (often...
House Republican plans to temporarily raise the standard deduction and restore more generous business tax deductions would result in modest tax cuts for most households...
What policymakers give, policymakers can take away. Nine months after Congress enacted President Biden’s proposal to boost the Internal Revenue Service’s 10-year budget by $80...
House Republicans on April 26 passed legislation on a party-line vote a bill that would rescind many Inflation Reduction Act (IRA) clean energy tax incentives in exchange...
The veil has lifted (at least partway) on the administration’s two-year-old pledge that the IRS would not use its $80 billion budget boost to increase...
As expected, President Biden’s 2024 proposed budget included several changes to the tax treatment of foreign income. Although prior attempts to rewrite these tax rules...