Tax strategies

New York City's new pied-à-terre tax is prompting financial advisors to help wealthy clients reassess their options, from residency status to estate plans.

Charitable remainder annuity trusts can be helpful, but advisors should be careful to follow new guidance issued by the IRS and U.S. Treasury Department.

The Senate Finance Committee voted nearly unanimously to approve a wide-ranging bipartisan tax administration bill aimed at improving operations at the IRS.

The U.S. Treasury Department has expressed concern over a number of high-profile tax strategies touted by Wall Street that it says may be "too good to be true."

A dispute the singer sought to turn into a public indictment of inspectors' practices is set to be thrust back into the limelight.

Taxpayers and tax pros have already dealt with many changes from the One Big Beautiful Bill Act on 2025 returns, but many provisions will be effective for the first time in 2026.

Americans using prediction markets to bet on the World Cup may face less tax burden than peers wagering through sportsbooks thanks to investment tax breaks.

The federal scholarship tax credit is set to take effect on Jan. 1, 2027, with proposed regulations expected by the end of September.

The Trump administration is touting its tax-advantaged investment accounts, but critics say the accounts may only reach those who are already set in life.

As the July 4 launch date nears when clients can start contributing to Trump accounts, advisors discussed pros and cons of this method to save for children.

The super wealthy are accustomed to finding ways to shrink their tax bills. But with New York City's new levy, many are learning they might just have to pony up.

For many taxpayers — especially those with variable, limited or short-term tax capacity — credit transferability provides a practical and effective solution.

Governor Gavin Newsom is calling for a federal tax on billionaires after failing to stop a California wealth tax from reaching the November ballot.

For practitioners willing to learn the rules, Trump accounts are the best client acquisition and retention opportunity we've had in a decade.

Among other things, the IRS's preliminary AI guidelines call for firms to exercise due diligence on AI outputs and pass AI-related savings on to clients.

Tax amnesty programs; protecting your practice; unidentified tax payments; and other highlights from our favorite tax bloggers.

The group behind a proposed 5% wealth tax in California is pushing for a compromise with Governor Gavin Newsom by pitching a 2% levy instead.

Between now and July 6, companies have a narrow time limit to retroactively recover research and development tax deductions from up to the previous three years.

For years, tax firms have talked about moving beyond compliance and offering more strategic advice. Clients want that shift, too.