Tax strategies

The House Ways and Means Committee reported the text of the Tax Relief for Workers and Families Act after voting last week to advance the bipartisan bill.

Congress moved one step closer to enacting $78 billion in business and child tax breaks Friday, although election-year politics add risk to the legislation's prospects.

The former IRS contractor who stole and leaked the tax returns of former President Trump and other billionaires believed Americans had a right to the information, his lawyers told a judge.

As tax-friendly as the rules are for HSA funds during an individual's lifetime, they can become much more punitive for funds left over after the original account owner dies.

Businesses eager for a tax deal announced by two powerful U.S. lawmakers can't yet bank on the corporate breaks.

The chairs of Congress' two main tax committees announced a deal to extend a number of expired tax credits and tax breaks, including the expanded Child Tax Credit.

The Internal Revenue Service provided initial guidance to aid employers in establishing pension-linked emergency savings accounts, an outgrowth of the wide-ranging SECURE 2.0 Act of 2022.

It was an eventful 12 months for practitioners, with new legislation, regulations, court decisions and IRS pronouncements all impacting the tax landscape.

The failure of the leaders of the Ivy League universities to condemn antisemitism could affect their tax-exempt status, the chairman of the House Ways and Means Committee said.

Negotiators are nearing a bipartisan deal in time for many voters to receive the benefits during the current election year.

What you don't know can hurt you as it pertains to your clients as well as your own life insurance portfolio.

The New York governor called for a new tax break to promote affordable housing and increase support for fighting crime in New York City.

The global 15% minimum tax will reshape the landscape for global companies that shift profits around the world.

From estate, gift and trust work to Social Security maximization and charitable planning, there are a host of offerings firms can work on once the tax return is finished.

Practitioners have always shared advice as part of tax prep, but the future of the field is in proactive, intentional tax advisory services.

Financial advisors, tax professionals and their customers can recoup 30% of the cost through credits for qualified upgrades to their residences.

Businesses eager to see Congress revive expired research and investment tax breaks have reason for optimism that a deal could come together as soon as this month.

What do these changes mean for taxpayers and how can accountants help manage the impact?

Through international cooperation and greater transparency, the OECD's Inclusive Framework suggests countries can develop more effective rules to minimize tax avoidance.

ART programs provide a number of benefits, including more control over premiums and a more stable renewal process. However, the tax consequences require a thorough vetting.