Tax professionals have been clamoring for more detail and clarity regarding whether (and under what circumstances) corporations and partnerships must file Schedules K-2 and K-3, particularly where they have little or no foreign activity and shareholders or partners.

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.

Voters in Massachusetts approved a measure to raise taxes on millionaires after a hard-fought battle, while Californians rejected a proposition that targeted the state's highest earners to pay for climate initiatives.

Vista Equity Partners founder Smith was on a list of witnesses Justice Department lawyers filed in federal court in San Francisco ahead of the trial of Houston trust lawyer Carlos Kepke.

New clients and next season's fees; CP504's 'real' meaning; cropping out; and other highlights from our favorite tax bloggers.

An inside look at the ongoing arguments against the federal government's attempts to restrict state tax cuts based on stimulus funds.

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.