Trump tax cuts News

Republicans Eye Tax Law Fix for Sexual Harassment Settlements

Republicans are considering a fix to a provision in their new tax law that they acknowledge could inadvertently penalize victims of sexual harassment in the workplace. But congressional gridlock before midterm elections in November means there’s no guarantee that the …

IRS Asked to Clarify Trump Tax Deduction for Pass-Through Businesses

The Republican tax law’s new deduction for pass-through businesses, intended to help small businesses, was “ill thought through” and will end up benefiting the wealthy, experts told the U.S. Senate Finance Committee on Tuesday at a hearing on the law’s …

Potential Trump Tax Loophole for Pass-Through Businesses

If exploiting a tax loophole is as much an art as a science, then the tax planning profession is poised for a creative renaissance. The inspiration is the tax law signed by President Donald Trump in December. The patrons are …

Chubb Records Solid Q4 and Year Despite Catastrophe Losses

Chubb had a solid last quarter of 2017 and year even though challenged by wildfire and other catastrophe costs. Fourth quarter results were enhanced by a one-time gain from the Trump tax cuts. The insurer booked $1.5 billion in net …

Tax Act Could Pose Challenge for Municipal Bond Market

The U.S. municipal bond market emerged bruised but not decimated by the federal tax bill that won final approval in the U.S. Congress on Wednesday , analysts said. The worst-case scenario of Congress yanking the federal tax exemption for interest …

MetLife CEO Says Businesses Must Give Up Tax Breaks for Lower Tax Rate

MetLife Inc. Chief Executive Officer Steve Kandarian said industries must be willing to forfeit some of their advantages in the tax code in order for the U.S. to seize a “once-in-a-generation” opportunity to lower corporate rates and simplify the process. …