Tax deductions

Tax reform brought new wrinkles to the deduction for energy-efficient improvements.

Each year, corporations and pass-throughs across industries fail to claim R&D tax credits because they aren’t aware that many day-to-day activities qualify for this dollar-for-dollar reduction in income tax liability.

Here’s what host families need to know about taxes and payroll.

One way for C corporations to reduce taxable income is to utilize an interest charge – domestic international sales corporation (IC-DISC). However, when dealing with C corps, it is imperative the IC-DISC’s ownership structure is correctly established at the onset.

Extenders and technical corrections could require revisions to earlier work.

Grant Thornton compares the contenders’ proposals in five categories.

Michael Bloomberg said Saturday he would raise taxes on the wealthy, increase the corporate tax rate, and curb tax-free inheritances of large estates, elements of a tax plan that he says would raise $5 trillion over a decade.

The former Treasury Secretary proposed a suite of steps the U.S. government can take to raise trillions of dollars more in revenue from the rich without adopting a wealth tax.

The Internal Revenue Service began accepting tax returns on Monday for tax season, while the Treasury Inspector General for Tax Administration highlighted the results of last year’s tax season.

Taxpayers are feeling good about their tax-filing abilities, according to a new survey, with 89 percent indicating they feel confident they have their withholding set up correctly and 95 percent saying they're confident that they're taking all the deductions they can.