Kaustuv Basu

The IRS may find few takers for its offer to settle litigation over potentially abusive land deals, even though the agency warned investors they won’t be offered better terms.

Kanthimathi Morrissey, vice president of tax for IBM Corp., chatted with Bloomberg Tax about the federal and international tax landscape in the time of a pandemic.

Promoters of tax-advantaged land deals gamed the law to provide billions in inflated deductions to investors, a bipartisan Senate Finance investigation concluded.

Democrats are beginning to lay the legislative groundwork for President Joe Biden’s infrastructure priorities, flagging their must-haves as the final package is hashed out.

Democrats on the House committee in charge of turning Joe Biden’s tax plan into legislation are at odds over how high to increase levies on investment gains, a key part of the president’s agenda.

Rep. Kevin Brady, the top Republican on the Ways and Means Committee, joins Talking Tax to discuss his impending retirement and what he hopes to accomplish before his final term is up.

The White House is requesting $14.1 billion for the IRS in the fiscal 2023 budget, an increase of 18% above the 2021 enacted level.

Senate Finance Committee Chairman Ron Wyden (D-Ore.) and ranking member Mike Crapo (R-Idaho) said numerous senators were interested in passing retirement legislation this year.

Bloomberg Industry Group Inc. is asking a judge in Chicago to force the city to disclose the amount of amusement back taxes it forgave for Apple Inc. as part of a settlement.

Decades-long sentences and close to $1 billion in ordered restitution handed out in federal court this week in a fraudulent charitable deductions and land rights case could finally put the brakes on a controversial tax transaction while making it easier for the IRS to win related cases in US Tax Court.