Tax breaks

The “resident investor” incentive lures wealthy individuals with the promise of legally skirting U.S. income tax.

Sen. Ron Wyden is targeting Top 15 Firm Baker Tilly and others in an investigation into whether opportunity zone investments are benefitting low-income areas as intended.

Much of the data necessary for compliance is unavailable, according to a new report.

That Rothko, Basquiat or Banksy hanging in the front hall may be a great way to get a tax break.

Here are some tips for accounting firms to advise their clients and internal teams to invest in employee wellness.

Manchin said any new programs should be means-tested and that the tax offsets should include elimination of the carried-interest provision that especially benefits private equity firms.

Qualified small business stock may lose a lot of its value if congressional proposals go through.

The service has issued Notice 2021-52 with special per diem rates that take effect Oct. 1, 2021.

As a tax accountant, it is your job to help your clients track their payments online and receive the money as soon as possible.

The Biden administration’s tax proposals could have a negative impact on real estate investing.

The Internal Revenue Service is giving employers more leeway in claiming the Work Opportunity Tax Credit to hire people in underprivileged areas who face significant obstacles to employment for jobs in summer youth and community programs.

Two senior Democrats are proposing a bill that would go further than President Joe Biden’s plan and potentially raise quadruple the revenue.

The bipartisan infrastructure bill would end a tax break Congress crafted to help businesses struggling during the pandemic but relatively few companies have claimed.

Two companies are teaming up to allow clients to buy mining machines through an IRA.

Two lawmakers in the House reintroduced bipartisan legislation Wednesday to change a provision in the Tax Cuts and Jobs Act that makes it difficult for performers to deduct business expenses.

The Senate Finance Committee chairman's legislation would streamline the 199A deduction for qualified business income, allowing accountants, lawyers, doctors and others to qualify, but phasing out above $400,000.

The bill would expand eligibility for the “pass-through” deduction to lawyers, accountants or doctors making above certain income thresholds.

Democratic leaders want voters in key states to know which party is responsible for the checks Americans with young children are set to start receiving on Thursday.

The private equity industry is trying defend a cherished tax break that Democrats have targeted for elimination.

Congress reintroduced legislation to prevent abuses of a tax break that’s supposed to protect public lands, but is often used as a tax shelter.