Tax

"The quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse," the JPMorgan Chase & Co. CEO wrote in his annual letter to shareholders.

Wall Street continued its sell-off of financial institutions as the increasing likelihood of a U.S. recession fuels fears of revenue pressures.

President Trump's tariffs on imported vehicles threaten to drive up auto prices at a time when more car owners are already drifting into delinquency on their loans.

An aggressive suite of tariffs from President Trump will complicate the Federal Reserve's job as it struggles to quash inflation and avoid an economic downturn.

A sizable increase to the current $10,000 limit on SALT write-offs would represent a major victory for a crucial group of swing-district House Republicans.

Elon Musk's X is urging the justices to shield companies from being forced to disclose sensitive user financial data under "suspicionless" subpoenas.

The Internal Revenue Service has placed 50 senior IT leaders on administrative leave, as the union filed suit over a Trump order on collective bargaining.

The administration's 25% import tax on cars and parts can squeeze dealerships' parts and service revenue, one of their largest profit centers. Buy now/pay later lenders could see a windfall.

The Internal Revenue Service's Criminal Investigation unit has a new initiative for engaging with financial institutions to uncover tax and financial fraud.

Republican leaders say they are closer to a plan to extend the 2017 tax cuts and increase the debt ceiling.

Treasury Secretary Scott Bessent and Trump's National Economic Council director, Kevin Hassett, are set to meet Tuesday with House and Senate Republican leaders and their top tax writers to try to resolve differences over the scale of cuts and ways of paying for them.

Presidents have long rushed to take credit for booms and distanced themselves from busts. But Trump's situation is unusual. The risks to the U.S. economy — potentially including stagflation or even recession — are closely linked to his own flagship initiative: a new tariff bonanza due in just over two weeks.

The Treasury named a pair of IRS agents as special advisors to Treasury Secretary Scott Bessent, and plans key roles for them at the IRS.

The stopgap funding bill paves the way for Republican lawmakers to pivot to signature border and tax bills they seek to pass in the coming months.

Dodig, who has led the Canadian bank since 2014, will be succeeded by Harry Culham, CIBC's head of capital markets.

President Donald Trump's tariff policies will strain some banks' business customers, as their supply chains will have to be reconfigured. But uncertainty is the real headwind.

The president exempted Mexican and Canadian goods covered by the North American trade agreement from his 25% tariffs, offering reprieves to America's two largest trading partners.

Commerce Secretary Howard Lutnick said the president is likely to defer his 25% tariffs on Canada and Mexico for all goods and services covered by the North American trade agreement.

As steep tariffs on Canadian goods took effect this week, banks on both sides of the border expressed concern about the economic fallout and the uncertainty their customers face.

Many layoffs so far have been in the Small Business/Self-Employed Division, but the Large Business & International Division has also been affected.