The US House Ways and Means Committee released a Description of Tax Provisions related to budget reconciliation recommendations, including proposals to extend key provisions of the 2017 Tax Cuts and Jobs Act (TCJA) and other reforms on 12 May

The US Department of the Treasury reported a USD 258 billion budget surplus in April on 12 May 2025. The surplus is up 23% (USD 49 billion) compared to the same period last year. The Treasury said the increased surplus was driven by strong tax

The US Internal Revenue Service (IRS) released ​​IR-2025-59, on 12 May 2025, announcing that the interest rates will remain the same for the calendar quarter beginning 1 July 2025. For individuals, the rate for overpayments and underpayments

Republican Congress members have proposed new tax breaks on income from tips, overtime pay, senior citizens, private school tuition, and state and local taxes for the 2026 federal budget on 12 May 2025. The package also proposes tax reductions

The US IRS issued a notice urging taxpayers and small businesses to remain alert to potential scams on  8 May 2025. The Internal Revenue Service joins in celebrating National Small Business Week by reminding taxpayers and small businesses that,

The US and China have agreed to temporarily cut tariffs in order to work to end a trade war that has fueled recession fears and unsettled financial markets. Following discussions with Chinese officials in Geneva, US Treasury Secretary Scott