Tax planning

Senator Elizabeth Warren said IRS funding should be bolstered so the richest Americans get audited about once every three years as part of her proposed 2 percent annual tax on wealth in excess of $50 million.

A Biden proposal to change the tax deduction for contributions to a tax credit could have serious implications.

Senator Elizabeth Warren, joined by Reps. Pramila Jayapal and Brendan Boyle, proposed a new wealth tax on households with a net worth of more than $50 million.

The uncertainties in the year ahead are making it difficult for corporate tax executives to decide exactly what to do, given the challenges surrounding COVID-19.

Senate Majority Leader Chuck Schumer is weighing adding a provision to the $1.9 trillion COVID-19 relief plan that would put a penalty tax on big companies that don’t pay workers at least $15 an hour, a Democratic aide said on condition of anonymity.

To best serve your clients, and your own firm, these are the top items to closely monitor in the year ahead.

Right out of the gate, this year has provided some intriguing storylines that undoubtedly will have ripple effects when tax pros sit down with their clients next winter.

A COVID-wrecked economy has changed the calculus for some financial planners.

Progressives are eyeing tax measures including an increase in the capital-gains levy.

You can provide a bit (coin) of good news for clients with outsize short-term gains from alternative assets.