Tax

Thomson Reuters has published a special report on the 3.8 percent net investment income tax that was included as part of the Affordable Care Act, which tax preparers will be calculating for the first time on their clients’ 2013 returns.

The Marketplace Fairness Act, which was supposed to finally settle the question of how states can tax online sales, appears to have stalled in Congress after passing the Senate last year.

The Internal Revenue Service said that a qualified tax professional who has a Form 8821, Tax Information Authorization, on file may now request a client’s account transcript using the Transcript Delivery System.

“Old-world” economies charge higher inheritance and estate taxes than “new-world” economies, according to a study by UHY International.

The Internal Revenue Service said Friday that victims of last month’s mudslides and flooding in Washington state will have until Oct. 15 to file their returns and pay any taxes due.

April is National Financial Literacy Month, and in recognition of the importance of the topic New York-based CPA John Vento is partnering with members of Congress from the Financial and Economic Literacy Caucus to speak at high schools and universities in the New York metropolitan area.

Investors try to maximize investment returns while managing the level of risk in their portfolios. But only after-tax investment returns are truly available to the investor. Tax consequences should be considered before making any investments. Tax treatment, good or bad, can have a significant impact on an investment decision.

Taxation is merely one piece of the financial planning puzzle, but it is second only to investments as the topic that most individuals want to control during the financial planning process.

Whether they realize it or not, taxes ended up going up for most taxpayers last year, despite the extension of the Bush tax cuts at the beginning of last year.

Nearly half of Americans prepare their own taxes, according to a new survey, and most of them seem to be convinced they are taking advantage of all the tax breaks available.