The American Bankers Association last week submitted a comment letter to the Internal Revenue Service offering feedback on proposed regulations related to the Opportunity Zone tax incentive.

The Internal Revenue Service on Thursday issued a long-awaited proposal interpreting a section of last year’s tax reform law that seeks to combat tax avoidance through deductible payments made in the U.S. into other tax jurisdictions

President Trump today signed an executive order creating a new council that will help ensure the success of the Opportunity Zones tax incentive.

The IRS today proposed regulations for implementing provisions of the Tax Cuts and Jobs Act that restrict the deductibility of net business interest expense. 

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.