Tax

A like-kind exchange, also known as a Section 1031 exchange after the section of the Tax Code that governs it, is essentially a tax-deferral tool that postpones tax on the exchange of a property for another property of a “like kind.”

The Internal Revenue Service is providing transition relief to owners of individual retirement accounts and individual retirement annuities relating to the application of a one-rollover-per-year limitation of the Tax Code.

The Internal Revenue Service said Thursday it has already received more than half of the tax returns it expects to receive during 2014, even though the filing deadline is nearly a month away.

The Internal Revenue Service is giving the Mega Millions jackpot some serious competition, with tax refunds totaling $760 million ready to be handed over to an estimated 918,600 taxpayers who did not file a federal income tax return for 2010.

The NAEA’s collection of ridiculous things tax clients believe

The U.S. District Court for the District of Maryland has held a pair of family estate executors liable for the unpaid taxes of the estate.

CCH is warning participants in the NCAA college hoops March Madness brackets that any of their winnings in the office pool will be subject to taxes.

Consumer finance site WalletHub has released a report on the states with the highest and lowest taxes.

The American Institute of CPAs has released a list of 10 suggestions for individual taxpayers and their preparers filing tax returns this season.

Most U.S.-based multinational corporations paid lower U.S. taxes on their domestic profits than they paid to foreign governments on their foreign profits, according to a recent study.