Income taxes

Senate Democrats negotiating an expansion of the state and local tax deduction aren’t near a deal, raising the prospect that talks will spill into next week — and potentially next year.

After months of talk of steep tax increases on the wealthy, a kinder reality has emerged for well-off clients.

Negotiations over the deduction hit a new snag with two key lawmakers at odds over whether the plan should raise revenue for other spending priorities.

Coming brackets; rising expatriations; meeting behavior and aftermaths; and other highlights from our favorite tax bloggers.

It’s a cliche that’s out of date, advisors say; instead, investors should actively consider the tax consequences before making market moves.

Dueling proposals would deliver large tax cuts to the wealthy while failing to do much for middle-income households, according to a new analysis from.

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.

Sen. Bernie Sanders is working on a proposal to set an income threshold for an unlimited state and local tax deduction.

The agency has cleared out much of its mammoth backlog of unprocessed returns, but scores of individuals and small business owners remain in limbo.

The tool will help U.S. withholding agents comply with their reporting and withholding responsibilities with Form 1042-S.

Despite a host of issues, they aim to vote this week on the roughly $2 trillion tax and spending bill.

Donor-advised funds increased their donations to charities last year in response to the COVID-19 pandemic, hitting the biggest levels in over a decade.

Lawmakers representing high-tax areas are pushing to make the SALT deduction on federal income taxes a priority.

Infrastructure and crypto; how pros would tackle tax policy; withholdings and non-resident employees; and other highlights from our favorite tax bloggers.

The Tesla founder will have a hefty tax bill however he chooses to make good on his pledge.

Middle-class households in New Jersey and other high-tax states would benefit from an expansion of the deduction, a key House Democrat said.

There were last-minute changes on modifying the SALT deduction and a provision allowing Medicare to negotiate drug prices.

Congressional Democrats floated fresh proposals on how to increase the federal deduction on state and local taxes, but House and Senate lawmakers were at odds over whether the very rich should be allowed to take the tax break.

Democrats have found new urgency to pass the roughly $1.75 trillion tax and spending plan as well as an infrastructure bill with $550 billion in new spending after being stung by a Republican sweep of statewide races in Virginia.

The move would help offset the benefits from a proposed expansion of the federal deduction of state and local taxes.