Tax planning

Congressional staff reportedly worked over the Thanksgiving weekend on negotiations over tax extenders, the dozens of expiring and already expired tax breaks that perennially occupy Washington just before the end of the year.

The National Society of Accountants is offering some year-end tax tips for businesses, courtesy of Wolters Kluwer Tax & Accounting US.

The National Society of Accountants has released some suggested year-end tax tips for individuals, courtesy of Wolters Kluwer Tax & Accounting US.

Ireland is about to get a new biggest company, and it’s only a little smaller than the nation’s entire economy.

Ernst & Young has released the EY Tax Guide 2016, adding new chapters of information on tax preparation.

The Internal Revenue Service announced three changes Friday to the proposed rules for the new tax-favored Achieving a Better Life Experience, or ABLE, accounts for eligible disabled individuals that will be included in the final regulations when they are issued to make it easier for states to offer and administer ABLE programs.

The U.S. Treasury Department plans to release additional guidance this week aimed at deterring corporate inversions, though it can’t stop such tax-avoidance moves without new authority from Congress, Secretary Jacob J. Lew said.

Many accountants and valuation experts are anxiously attempting to predict the contents of the revised Section 2704 regulations from the IRS on the valuation of family limited partnerships and other family-controlled entities.

With Paul Ryan newly instated as House Speaker, many are saying 2016 will be the year for major tax reform, according to Matt Becker, BDO USA regional managing partner for tax services.

As we get closer to the end of yet another year, it’s time to tie up the loose ends and implement tax-saving strategies.