Accounting & Tax

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.

Senate plan would impose steeper levies on American companies shifting profits overseas.

New book tax would ensure companies with $2 billion or more in profits pay at least 15%.

The president indicates he would consider a 25% corporate tax rate rather than his proposed 28%.

Big Tech will find it harder to dodge Biden's plan because, if turned into law, it would close most of the loopholes left by Trump's 2017 legislation.

Lawmakers will attempt to structure the legislation to prevent tax loopholes for IP and other intangible assets.