Accounting & Tax

While Treasury Secretary Yellen expects businesses to back the push for a global minimum tax, the U.S. Chamber of Commerce worries some still-ambiguous elements may disadvantage U.S. businesses.

The 15% corporate minimum tax proposed by Janet Yellen is unlikely to pass in the U.S. if it doesn't become law before this November's midterm elections.

The company can't offer investors an alternative, non-GAAP accounting that removes bitcoin volatility from its income statement.

Bristol-Myers Squibb draws the attention of a top Senate Democrat regarding a decade-old move that substantially reduced the company's U.S. taxes.

The proposal in the Build Back Better plan would solve for a discrepancy between how FASB and the IRS calculate corporate earnings.

Companies would owe 15% minimum, regardless of deductions. Democrats hope to gain an extra $400 billion in revenue.

As lawmakers consider various means of funding the Biden plan, Warren pushes to hike taxes on the wealthiest corporations and individuals, and to permanently fund the IRS.

The House Ways and Means Committee approved tax increases on corporations, high earners, and capital gains.