The Treasury Department and the Internal Revenue Service today issued proposed guidance on the Opportunity Zones tax incentive. The incentive — which was part of the new tax reform law —  aims to drive long-term equity capital to distressed communities by providing tax benefits on investments in qualified projects, or “Opportunity Funds.” Treasury has certified 8,761 communities in the U.S., ...

In a comment letter today, the American Bankers Association yesterday called on the Internal Revenue Service to specifically address charitable remainder trusts and common trust funds as it prepares guidance on implementing Section 199A of the Tax Cuts and Jobs Act.

ABA, the Independent Community Bankers of America and the Subchapter S Bank Association today filed a comment letter on the IRS’ proposed regulations implementing the 20 percent deduction for pass-through entities under the 2017 tax reform law.

As Treasury and the IRS work to implement the new tax reform law, the American Bankers Association has published a new staff analysis on the recently proposed regulations that would implement the 20 percent deduction that pass-through entities, including Subchapter S corporations, can take under the 2017 law.

Today the House Ways and Means Committee marked up three bills referred to collectively as "tax reform 2.0."

FDIC-insured banks and savings institutions earned $60.2 billion in the second quarter, a 25.1 percent increase from the industry’s earnings a year before, the FDIC said today.

The Internal Revenue Service today issued initial guidance addressing changes made by the new tax reform law to the deductibility of compensation for corporate executives.

The Internal Revenue Service and the Treasury Department today issued proposed regulations implementing the 20 percent deduction that pass-through entities, including Subchapter S corporations, can take under the 2017 tax reform law.

The Treasury Department on Monday submitted to the Office of Management and Budget the first group of proposed regulations related to a provision of the tax reform bill that established a 20 percent deduction for pass-through entities, including Subchapter S corporations.

In a recent notice, the Internal Revenue Service released guidance clarifying that trustee and executor fees may continue to be deducted from a trust or estate’s income after the new tax reform law suspended the deduction of miscellaneous itemized deductions for by individual, trust and estate taxpayers.