Tax breaks

Taxpayers can make a late election, or revoke an earlier election, for the tax break for property they have acquired for a business.

The rules set by the Economic Development Commission in St. Thomas allow some businesses to lower their exposure to taxes by up to 90 percent.

The Internal Revenue Service issued a ruling allowing a taxpayer to use a tax-advantaged flexible spending account to pay for the medical portion of an ancestry test.

Liquor stores can’t claim a hot new U.S. tax break designed to create jobs in poor communities. One of the biggest property developers for marijuana ventures says it can.

Investors are starting to pour money into the real estate projects after more than a year of indecision.

Taxpayers wishing to participate for any calendar 2018 capital gains must act quickly.

If liberal and conservative advocacy groups can agree on anything, it’s this: A suite of more than three dozen or so corporate tax breaks that have expired over the past two years should stay dead.

Sen. Ron Wyden, D-Ore., introduced the legislation in response to the recent college admissions scandal.

Democrats would need to sweep the 2020 election if they want to pull the trigger to end the carried interest option.

The American Institute of CPAs has sent the Internal Revenue Service a set of recommendations on changing some of the parking rules for tax breaks for transportation fringe benefits, which the Tax Cuts and Jobs Act mostly eliminated.