Tax

The Department of Government Efficiency says it has saved $55 billion in federal spending so far, but its website only accounts for $16.6 billion of that.

The IRS would give a temporary detail to provide software engineering expertise to a special advisor to the director at the Office of Personnel Management.

While executives this week signaled they could accept policies that put pressure on the economy, analysts said the lighter regulatory touch is unlikely to offset Trump's tariff regime.

President Donald Trump huddled with Republican lawmakers on Thursday and discussed ending some of the biggest tax provisions that impact Wall Street.

The president's rough-and-tumble trade negotiations have throttled financial markets, causing investors to flock to the safety of dollars and Treasuries. But some economists say this style of policymaking could have hurt the U.S.'s safe haven status in the long run.

A document circulated by the House Ways and Means Committee makes a number of suggestions for cutting federal spending, including revoking the federal tax exemption for credit unions and eliminating the Federal Deposit Insurance Corp.'s orderly liquidation authority.

House Republicans are in talks over raising the cap for state and local tax deductions after winning pledges to include it in a must-pass tax bill this year.

Senate Republicans would like to do a large bill on immigration and energy first and then tackle tax reform in a second bill. House Republicans prefer one large bill.

The president-elect has announced members of his senior leadership team at the Treasury, who'll work alongside Scott Bessent, his pick for secretary.

Scott Bessent, President-elect Donald Trump's pick to serve as Treasury secretary, is aiming to build support for his nomination

Institutions like BMO Financial Group and Bank of Nova Scotia saw earnings bogged down by increased loan loss provisions and higher tax rates.

Wall Street has cheered President-elect Trump's selection of Scott Bessent to lead the Treasury because of his moderating influence and expertise, but his profile as an establishment figure in an anti-establishment administration could undermine his authority.

Homeowners across the nation could realize savings from as little as $20 per year to having their bill wiped out entirely.

Donald Trump vowed to boost the U.S. auto industry by making interest on car loans fully tax-deductible and renegotiating a trade deal with Mexico and Canada as he courts Michigan.

The increase would "ensure that the wealthy and big corporations pay their fair share" at a level that also "rewards investment in America's innovators, founders and small businesses," Harris said.

The Republican nominee for president wants to renew the provisions of the Tax Cuts and Jobs Act.

When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.

Prosecutors claim Dan Rotta, 77, hid more than $20 million from the IRS, using "pseudonyms, complicated corporate structures, and nominees" to conceal offshore assets and income.

Challenger banks MoneyLion, Acorns and Moves are partnering with "taxtech" companies to extend free or low-cost filing help to customers.

Telhio Credit Union in Ohio hopes to help contractors verify their earnings when applying for loans and other financial services.