Tax strategies

If the program ultimately moves forward, tax professionals should know about the rules when advising their clients.

Billionaire hedge fund manager Ken Griffin sued the Internal Revenue Service, claiming it failed to protect his confidential financial information.

Unlike stocks, digital currencies aren't hit by the wash-sale rule — a major opportunity to turn lemons into lemonade.

The service is reacting to recent court decisions challenging its ability to classify the investments as abusive schemes.

From sea changes with inherited retirement plans to the ETF juggernaut, here's what advisors grappled with for affluent clients.

The federal government's child tax credit just had its 25th anniversary, but not everyone is celebrating.

The platform will be used for the delivery of Section 1031 exchange and Opportunity Zone-qualifying investments to the two organizations' networks of accounting firms and real estate advisors.

With markets down so far this year and persistent inflation back, certain tax-saving moves can be particularly useful.

With the end of the year just around the corner, now is a great time to discuss tax planning with your clients.

The agency aims to hire scores of auditors, but there's a nationwide shortage of accountants.

According to data released by the OECD, the average combined statutory tax rate in its sample of over 160 countries was unchanged at 20% this year.

For businesses, the return of Republicans to control of the House takes the possibility of corporate tax increases favored by Democrats off the table.

When it comes to tax legislation, expect 'small ball' in an era of divided government.

Grants to charities from donor-advised funds grew 28% last year, according to a new report, as DAFs also come under scrutiny for helping the wealthy shield their money from taxes.

Republicans — who are expected to control the House as of January — want tax breaks for private equity, manufacturers and businesses. For their part, Democrats want to expand the child tax credit.

Businesses are lobbying hard for Congress to pass a package of tax breaks worth about $100 billion before the end of the year.

Democrats' hopes for tax increases on the wealthy and corporations would be dashed should Republicans take at least one chamber, and prospects diminish for a windfall profits tax on oil companies.

Taking the prize in annual installments over 29 years, rather than all upfront, dramatically increases the windfall. Lottery victors with seven-figure winnings can also reduce their tax bill.

By keeping an eye on the future and potential new tax developments, tax advisors can offer their clients a sense of stability and proactive tax planning.

There's no sugarcoating the stock market's 20% plunge, but there is a small consolation prize: one of the best opportunities in years to lower tax bills.