Tax planning

Among other things, an evenly divided Senate represents a significant hurdle.

What Congress, clients and others did this year, and how it will impact next year.

Here are some obvious and not-so-obvious year-end tax tips to consider as we prepare ourselves and our clients for the new year.

The twin dynamics of expiring relief and a transition to a new presidential administration are making the end of 2020 a turbo-charged version of the usual rush to lock in tax reductions.

Wolters Kluwer’s Mark Luscombe rounds up a host of items practitioners may want to address soon.

Clients don’t want to be on the wrong side of any potential changes to tax law.

The outcomes of two elections in Georgia that are scheduled for Jan. 5 are expected to determine the balance of power in the Senate and may also have an impact on the kind of tax planning that accountants should be advising their clients to do.

Concerns are increasing over the growing spread of COVID-19 and the preparedness of the incoming administration to deal with vaccine distribution and other critical issues.

The pandemic is throwing a monkey wrench into plans for the Internal Revenue Service to reorganize itself to provide better taxpayer service.

Chris Rokos, who runs the hedge fund that bears his name, sued Deloitte and a U.S. law firm after 39.4 million pounds ($52 million) in tax relief was thrown out by U.K. authorities.