What to know about $10,000 deduction limit for state and local taxes

Rep. Bill Pascrell, D-N.J., speaks at a news conference announcing the state and local taxes caucus outside the Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images A group of bipartis...

House Republicans have voted to cut IRS funding

New U.S. Speaker of the House Kevin McCarthy, R-Calif., speaks with reporters in Washington, Jan. 7, 2023. Jon Cherry | Reuters House Republicans on Monday night voted to slash funding for the IRS, fo...

Here’s what the Wells Fargo cross selling scandal means for the bank

Wells Fargo is one of the oldest and most powerful banks in the United States. Its reputation today is in tatters, following a notorious scandal that is still unfolding. Reports of fraudulent activity...

Democrats want probe of airline Covid bailouts over staff buyouts

Airline pilots walk through the Ronald Reagan Washington National Airport on December 27, 2021 in Arlington, Virginia. Anna Moneymaker | Getty Images Two House Democrats have asked a Treasury Departme...

Investors flock to green energy funds as Congress passes climate bill

The expansion of renewables comes at a time when concerns about the speed of the planet’s shift away from fossil fuels have been heightened following Russia’s invasion of Ukraine. Imaginim...

Inflation Reduction Act extends $7,500 tax credit for electric cars

David Madison | Photodisc | Getty Images A federal tax break that’s available to car buyers for going electric may work differently starting next year. Under the Inflation Reduction Act — which ...

House Democrats push for Biden’s billionaire minimum income tax

Erik McGregor | LightRocket | Getty Images As Democrats plow forward with a slimmed-down reconciliation package, House lawmakers are separately pushing another piece of President Joe Biden‘s age...

House Democrats push for repeal of rule blocking SALT cap workaround

Rep. Tom Suozzi, D-N.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images Three ...

House Democrats push for SALT relief in appropriations bill

Rep. Tom Suozzi, D-N.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images Despit...

Bipartisan lawmakers push for IRS answers on problems facing taxpayers

Signage outside the Internal Revenue Service (IRS) headquarters in Washington, D.C. Bloomberg | Bloomberg | Getty Images A group of bipartisan lawmakers is pressing the IRS for answers on lingering is...