Tax

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.

The tax-advantaged accounts are available to all minors who are U.S. citizens, with a $1,000 seed contribution for children born between 2025 and 2028.

Once the IRS believes the conduct was willful, a taxpayer's legal training, government position or role of public trust can make the case far more damaging.

The Treasury is considering rules on taxation of college endowments and changes to treatment of R&D costs, bonus depreciation and caps on business interest deductions.

Red flag returns; dubious dental surgeries; high percentage of refunds; and other highlights of recent tax cases.

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 Internal Revenue Service's Taxpayer Assistance Centers staff provided incorrect advice about the tax laws in nearly half the visits by inspectors.

Money flowing into President Donald Trump's newly created accounts for children will initially be invested in a State Street Corp. exchange-traded fund.

The IRS against which your clients filed last year is not the same agency reviewing their returns today.