Income taxes

Taxpayers and tax professionals in some Western states will need to begin using a new mailing address.

House Democrats are considering a two-year repeal as one of their potential paths to undoing the $10,000 cap on the federal deduction for state and local taxes.

While Biden isn’t getting some of his proposed tax increases on the wealthy, some surprising new hikes may be in the works.

The stumbling block is scrapping the deduction limit without losing progressives wary of a tax cut that would overwhelmingly benefit the wealthy.

Fighting among Democratic lawmakers over proposed hikes in individual and capital gains taxes is intensifying, creating more questions and opportunities for advisors.

The new product is a move toward readiness for the U.K. tax authority’s “Making Tax Digital” initiative.

The issue of transfer pricing is a top focus as governments look to ensure multinational companies aren’t evading their tax responsibilities by reallocating profits to lower-tax jurisdictions.

States seek to recoup costs borne due to the COVID-19 pandemic see taxing out-of-state workers as painless.

A misstep could result in not getting compensated correctly, or creating potential trouble with the IRS.

A Treasury Department spokesperson gave an answer that provides clarity for advisors with affluent clients.