Tax planning

President Donald Trump praised New Jersey’s lawmakers for blocking Gov. Phil Murphy’s proposed millionaire’s tax, saying it would have driven “large numbers of high-end taxpayers out of the state.”

The Internal Revenue Service has released rules with the formula that determines how much Ivy League universities and other wealthy colleges will pay under a new tax.

Democratic presidential front-runners largely agree on their first tax priority: Scrap the TCJA and institute new levies to pay for social programs.

The 3.1 percent hike includes workers at the Internal Revenue Service.

The White House is developing a plan to cut taxes by indexing capital gains to inflation, according to people familiar with the matter, in a move that would largely benefit the wealthy and may be done in a way that bypasses Congress.

They’re an eclectic bunch — some of the nation’s most privileged heirs alongside entrepreneurs who have made spectacular fortunes in real estate, finance and Silicon Valley. But collectively they’re united on the need to tax more of the richest Americans’ assets.

Democratic presidential hopeful Bernie Sanders will propose canceling the nation’s outstanding $1.6 trillion of student debt and offsetting the cost with a tax on Wall Street transactions.

Both asset holders and practitioners have to educate themselves on the tax and recordkeeping rules around cryptocurrencies.

The American Institute of CPAs submitted more than 140 recommendations to the Internal Revenue Service regarding its 2019-20 Guidance Priority List.

A short list of pointers for when students put down the diploma and pick up the tax return.