President Biden signs the wide-ranging Inflation Reduction Act

President Biden signed into law on Aug. 16 the Inflation Reduction Act (IRA). The $740 billion bill contains many tax breaks and raises revenue through a new minimum tax on large, profitable corporations and an excise tax on stock buybacks. It’s intended to reduce the U.S. deficit by about $300 billion. Other revenue would come […]

A look at some of the tax provisions in the Build Back Better bill

President Biden’s signature Build Back Better bill that passed in the House of Representatives contains a number of tax provisions that are designed to help pay for the $1.75 trillion legislation. The bill now heads to the Senate for consideration, where most congressional observers believe it will undergo a number of changes. While the final […]

2017 Tax Reform: What Congress and the President are considering now

As reported by Reuters, President Donald Trump and congressional Republicans are now tackling tax reform. Tax staffers are meeting in the House of Representatives and the Senate through the August break to work on legislation that is expected to be unveiled next month. Here are some of the key issues that Congressional staffers and the […]