Ben Steverman

Harold Hamm executed one of the largest wealth transfers in U.S. history last week, handing each of his children a stake worth about $2.3 billion in Continental Resources Inc.

Just 1,275 families paid $9.3 billion in estate tax in 2020, down from $20 billion from nearly 5,500 families in 2018.

Well-off professionals in costly areas of the U.S. are set to get a windfall from competing plans to change the deduction limit for state and local taxes.

But proposals from the Biden administration might slow the flow of wealth into mega-IRAs.

Many on Wall Street think they’ve found just the thing to hide from a tax hike.

Sure, you might have to actually pay U.S. taxes on those crypto trades. But at least it will be easier to figure out how much you owe.

The administration is aiming at trusts — particularly dynasty trusts, vehicles that wealthy families can use to benefit multiple generations of descendants.

The leaders of the biggest Western economies are expected to endorse a plan that focuses on super-wealthy individuals and businesses.

It’s all but inevitable that the Biden administration, as well as lawmakers at the state level, will target millionaires and billionaires for more levies.

More than 20 percent of the wealthiest Americans’ income isn’t being reported to the Internal Revenue Service, according to a new study that calculates U.S. tax evasion is far higher than previously estimated.