Financial Planning

The Treasury Department’s Financial Crimes Enforcement Network is hoping to lift the veil on the use of anonymous companies for financial transactions by forcing financial firms to disclose and verify the identities of the actual people, or “beneficial owners,” behind the transactions.

Republicans are considering voting this year to repeal the U.S. estate tax, said House Ways and Means Chairman Dave Camp.

Thirty-five percent of adults in the U.S. have a debt in collections reported in their credit files, a new study shows.

A pair of Democratic lawmakers have introduced a bill that would provide tax relief to student loan borrowers who have been granted debt relief after consistently repaying their student loan debt for at least 20 years, giving them an exemption from being taxed on the amount forgiven on the loans.

Withdrawals from individual retirement accounts tend to be driven largely by people who are 70-½ or more, according to new research.

The scheduled depletion date for Social Security’s Disability Insurance Trust Fund is only two years away, in late 2016, according to a new government report.

On the same day that the Securities and Exchange Commission issued long-awaited rules for money market mutual funds, the Internal Revenue Service has issued its own rules for money market funds and wash sales.

I remember the tax-cutting years in previous political eras. Those were the good old days. Now it’s easy to get the impression we have higher income taxes and an extra tax on investment earnings. But analyzing taxes and the reasons behind them are not that simple. Some brackets are actually lower today, and some taxpayers are paying at a higher rate while others are paying at a lower rate.

Critical challenges facing Americans and their advisors

U.S. Wealth Management president and CEO John Napolitano discusses how accountants should take charge of the various advisors that their clients deal with and coach them, in an interview with Accounting Today editor-in-chief Dan Hood.