Tax

Hikes in the top tax rates are off the table, although a “billionaire’s tax” on unrealized capital gains is under discussion.

There is increased momentum for an income tax on $1 billion or more in annual income, or three consecutive years of $100 million or more in income.

The Internal Revenue Service issued guidance to assist employers who are rehiring retirees or retaining employees past retirement age as a way to find qualified workers in a tight labor market.

The NCAA began allowing university athletes to earn money from their name, image and likeness this summer, and now they could find themselves owing taxes for the first time in their lives.

Here are some tips for accounting firms to advise their clients and internal teams to invest in employee wellness.

The Arizona Democrat — who has opposed raising rates on corporations and individuals — will back ways of increasing revenue from domestic corporations, global companies, high net-worth individuals and through tax enforcement.

President Joe Biden’s acknowledgement that he doesn’t have sufficient Senate Democratic backing for his proposed increase in the U.S. corporate tax rate gives fresh impetus to efforts by negotiators to find alternative revenue sources for a sweeping social-spending bill.

Democratic negotiators have been working to address opposition from Senator Kyrsten Sinema, an Arizona moderate, to boosting rates.

Riviera rip-off; questionable deductions; fled the country; and other highlights of recent tax cases.

The IRS is reminding tax pros that current Preparer Tax ID Numbers will expire on Dec. 31.