IRS head sees huge task ahead to administer new tax law
The agency, pummeled for years by criticism from congressional Republicans and funding cuts, now must administer and enforce the most sweeping overhaul of the U.S. tax code in three decades.
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Anthem among health care’s biggest gainers from federal tax cuts
Four of the 20 biggest health-care companies in the Standard & Poor’s 500 Index saw a benefit from the tax overhaul in the fourth quarter. Among them was Indianapolis-based Anthem Inc.
China vows to ‘counterattack’ U.S. as trade spat worsens
Now in a tit-for-tat fight with the United States, the global superpower vowed Friday to retaliate if President Donald Trump makes good on his threat to apply tariffs to an additional $100 billion worth of Chinese goods.
China lists $50 billion in U.S. goods it might hit with 25 percent tariff
Beijing’s list of 106 products included the biggest U.S. exports to China, reflecting its intense sensitivity to the dispute over American complaints that it pressures foreign companies to hand over technology.
Indiana soybean farmers worry about possible China tariffs
Some Indiana farmers are concerned that the struggling soybean industry could face another blow if China imposes tariffs on U.S. soybeans.
Without state fix, federal tax change could cost Indiana firms $100M
Indiana businesses and individual taxpayers might have double the work (and double the cost) to calculate their taxes next year if May’s special session fails to address the problem.
Hogsett retools tactics on commuter tax
Mayor Joe Hogsett hopes to convince legislators that other Indiana cities, not just Indianapolis, could benefit from a non-resident income tax or the redistribution of income tax revenue.
Indianapolis ponders commuter tax to fund road repairs
Indianapolis officials desperate for money to repair roads are considering whether they should try to collect income taxes from suburbanites who don't live in the city but who travel there for work.
Software tax-exemption bill awaits governor’s signature
A bill that exempts “software as a service” from Indiana’s 7 percent sales tax is headed to the governor, who said he’ll gladly sign it.
White House: No exemptions from steel, aluminum tariffs
President Donald Trump's administration appears unbowed by broad domestic and international criticism of his planned import tariffs on steel and aluminum, saying the president is not planning on exempting any countries from the stiff duties.
Political Action Committee formed to back IPS tax-hike referendums
Local business and community leaders have formed a political action committee, named “Vote Yes for IPS,” to support the upcoming May 8 primary referendums.
Hogsett proposes draining rainy day fund to infuse $14M into road repair
Hogsett called the condition of local roads “deplorable” and vowed to “return our streets to safe, passable condition.” Since Jan. 1., the city has received more than 12,000 repair requests for potholes.
Kochs launch $4M campaign against Donnelly, McCaskill
The television and online ads are critical of Sen. Joe Donnelly of Indiana and Sen. Claire McCaskill of Missouri for voting against the federal tax overhaul.
Banks poised to reap big gains from tax reform
Bankers and industry experts say the federal tax reforms passed late last year will give an especially big boost to banks.
Indiana House Republicans kill bill to raise smoking age to 21
House Republicans justified the decision, stating that their calculations indicate the change would cost state government $14 million a year in lost cigarette tax revenue.
Not-for-profits brace for impact of tax bill
Charities are waiting to see whether new tax changes, which will reduce the number of Americans who qualify to lower their federal tax bills by using a deduction for giving, will also reduce donations.
Bill to end government shutdown delays medical device tax for two years
The bill that President Donald Trump signed Monday night to reopen the federal government included a two-year delay in implementing a tax on medical devices, bringing praise from Indiana-based Cook Group.
Solar industry on edge as Trump weighs tariffs on panels
Some in the booming U.S. solar-power industry are hoping a decision this week by President Donald Trump doesn’t bring on an eclipse.
Bosma says Legislature might move on Amazon incentives this session
Indiana House Speaker Brian Bosma said lawmakers could move an incentives bill “expeditiously” to attract Amazon’s proposed second headquarters, if necessary, but he wouldn’t be in favor of doing what Wisconsin did to lure Foxconn.
UPDATE: Apple to build second campus, hire 20,000 in $350B pledge
Apple said it plans to build another corporate campus and hire 20,000 workers during the next five years as part of a commitment to the United States that will be partially financed by an upcoming windfall from the country’s new tax law.