A provision in the new GOP tax law would allow hedge fund managers to dodge a longer waiting period to claim the carried interest provision. Treasury Secretary Steven Mnuchin said Wednesday that the Internal Revenue Service will attempt...Show More Summary
The Treasury Department has been forced to close yet another Wall Street tax dodge — one that emerged in the recent overhaul.
Gov. Andrew Cuomo proposed a bill Thursday to close the "carried-interest loophole," at least on the state level—but he'll need to win support not just in Albany, but in Boston, Trenton,... To view the full story, click the title li...
Stephen E. Shay (Harvard), Treasury Can Close a Potential Loophole in the Treatment of Deferred Foreign Income in the Tax Cuts and Jobs Act – Will It Act?: This paper points out a potential TJCA loophole allowing a reduction in aggregate foreign cash subject to the 15.5% rate unless Treasury...
We’ve said from the get-go that actual tax reform — broadening the base and closing loopholes without widening the gap between rich and poor or flooding the treasury with red ink — was a worthy endeavor. We’ve written for months and months that far too much attention is paid by Republicans to the tax code, to […]
President Donald Trump suggested during his campaign that he would close a tax loophole for hedge fund managers. But the Republicans' tax bill keeps that loophole, called the carried interest provision, which allows fund managers toShow More Summary
MSNBC host Stephanie Ruhle called out Republican lawmakers on Monday morning for their tax plan that contains an enormous loophole for Wall Street hedge funders — a loophole, incidentally, that President Donald Trump vowed to close during the 2016 presidential campaign. Along with her co-host...
Some tax scholars have put together an important report detailing loopholes in the current tax bills that Congress should close, as well as numerous other issues. In general these problems will tend to cost the government more revenue...Show More Summary
It was billed as radical tax reform ? reducing taxes for the middle class and closing loopholes for the rich ? but the Republicans have come under serious fire for offering the biggest breaks to companies and the wealthy.
During a highly contentious interview with a Utah Republican defending the GOP’s proposed tax plan, MSNBC host Stephanie Ruhle stumped the lawmaker by asking him to name one specific loophole businesses will see closed after he claimed there were “dozens.” Rep. Chris Stewart...
President Trump and Congress promised to eliminate "special interest loopholes" in the tax overhaul. But except for the state and local tax deduction, all the biggest tax breaks are being preserved.
The Senate’s overhaul would tax stock options when they are vested — a burden on start-up employees. Closing the carried-interest loophole instead makes more sense.
Republican lawmakers pushing to close dozens of tax loopholes have left open one that's been good to President Donald Trump: the golf break. With Senate Republicans expected to unveil the outline for a sweeping tax rewrite on Thursday,...Show More Summary
Richard LeFrak, The LeFrak Organization chairman and CEO, weighs in on the Republicans' tax plan.
Republicans want to simplify the tax code by closing loopholes for working Americans, but not for big corporations.
The changes, which came as lawmakers in the House began officially debating the bill, would tighten rules on the earned-income tax credit and seek to close the carried-interest loophole.
It seems that after decades of neglect, the state of the U.S. reinsurance market is finally getting the attention it richly deserves.
In case you didn't notice, the Republican tax plan is tax cuts for billionaires hidden behind a curtain that says "middle class" and "cut loopholes" on it. And because taxes are complicated all a Republican congressman feels he has to...Show More Summary
EU nations are actively looking to close tax loopholes for U.S. internet multinationals.
Kellyanne Conway just sold her polling company and got to keep all the funds, thanks to a conflicts of interest loophole that let her avoid costly taxes because she belongs to the executive branch. Before Conway became the first woman to run a successful presidential campaign and slid into her...