Tag Archives: tax

President Donald Trump on Thursday imposed a 25 percent tariff on steel imports and a 10 percent tax on imported aluminum in a push to build up national security and put an end to “aggressive foreign trade practices,” The Hill reported Sunday. Mexico and Canada would be exempted from the …

Rep. Mick Mulvaney (R-South Carolina) has been selected by President-elect Donald Trump to serve as director of the Office of Management and Budget, Roll Call reported Friday. Ryan McCrimmon writes Mulvaney is a founding member of the House Freedom Caucus and is in his third term in the lower chamber. …

The Treasury Department‘s inspector general for tax administration calls for the Internal Revenue Service to reform its processes for tax return filing and tax account access authentication to mitigate potential data breaches. TIGTA said in a report issued Nov. 19 that the deputy commissioner for services and enforcement should implement …

The National Priorities Project has unveiled its State Smart website that publishes information on the paid taxes and received budget of each state in an interactive format. Becky Sweger reports the website uses compiled federal data from sources such as the Bureau of Economic Analysis, U.S. Census Bureau and Internal Revenue Service. From these data, NPP found …

The U.S. House has passed a bill to prohibit the imposition of taxes on Internet access, Reuters reported Tuesday. Kevin Drawbaugh writes the legislation would forbit state and local governments from implementing Internet connection taxes for 16 weeks. The Senate is set to decide on the Permanent Internet Tax Freedom Act following the …

President Obama will nominate Sen. Max Baucus (D-Mont.) to succeed Gary Locke as the U.S. ambassador to China, Politico reported Wednesday. Maggie Haberman and Manu Raju write Baucus, chairman of the Senate Finance Committee Chairman, is set to retire at the end of his term next year after serving in …

The Internal Revenue Service has delayed the start of 2014 tax filing season as the agency continues to restart and evaluate its processing systems after the government ended its shutdown. Individual tax returns for 2013 will start to be processed sometime between Jan. 28 and Feb. 4, the IRS said Tuesday. …

The Treasury Department wants to grow the number of businesses activities eligible for research tax breaks and apply some credits for production and supply costs, Reuters reported Thursday. Patrick Temple-West writes the proposed policy changes are intended to reduce the number of legal cases brought against the Internal Revenue Service by …

The Treasury Department is discussing a pact with dozens of other countries where signees would report and share tax information, Reuters reports. Patrick Temple-West writes the Treasury officially listed 47 countries as partners in negotiations, but that nearly 50 countries and territories are in negotiations to govern how local businesses …

The U.S. Treasury is $235 billion short of the $16.4 trillion borrowing limit and could reach that ceiling before the year ends, Reuters reports. Using emergency measures would avert a default and keep the government running through early 2013, according to Rachelle Younglai’s story. The Treasury said the government has …