Government Budget/Taxation

Some U.S. companies face reduced cash flows and higher tax bills this year as they are hit by a double whammy: Federal Reserve interest-rate hikes and a tax-law change on deducting interest…

Companies are asking lawmakers to repeal a change in the tax code that requires businesses to spread their research-and-development costs over five years rather than deduct them immediately.…

With just over two months before the new corporate minimum tax is set to go into effect, companies are asking the U.S. government for guidance on its scope and the potential impact of…

By Martin Rees and Donald GoldsmithJuly 21, 2022 12:01 pm ETNASA’s release of the stunning images from the James Webb Space Telescope signals the start of a new era of space-borne…

WASHINGTON—Top U.S. officials who oversee the Internal Revenue Service are expressing growing dismay with a year-old D.C. mystery: how confidential information about the nation’s wealthiest…

WASHINGTON—The IRS is preparing for an extended fight over a deduction created in the 2017 tax law that could put the government at odds with some of the largest U.S.-based multinational…

WASHINGTON—Federal revenue almost doubled in April compared with a year earlier, reaching a record and driving a monthly government surplus of $308 billion, which…

WASHINGTON—Americans can earn guaranteed 4% interest when money-market funds and savings accounts aren’t paying even half that. The catch: The IRS has to be sitting on your tax…

CRAWFORD, Ga.—Baptist minister John M. McGinnis left his family a 434-acre pine-tree farm when he died in 2006, writing in his will that his heirs could eventually sell it for a “hunk of…

WASHINGTON—More than six years into an Internal Revenue Service clampdown on what the agency says are abuses of land-conservation tax incentives, the deals keep coming.IRS officials had…