Tax planning

Amid regulatory change, margin pressure and technological shifts, private equity firms need to rethink their approach to tax and finance functions. Petter Wendel, EY global tax private equity leader, shares how based on findings from the 2020 EY Tax and Finance Operate Survey.

The pandemic has fueled a dramatic new wave of high-profile migration, sending tech workers to Texas, Wall Street types to Florida — and now YouTube provocateur Logan Paul to Puerto Rico.

The Biden administration is likely to dramatically change its approach to tax policy, with the first step in the stimulus package it began pushing through Congress this month.

Some business owners can get hurt by workarounds to the $10,000 limit for state and local tax deductions.

Hopes among millions of upper-income and middle-class taxpayers for a repeal of the Trump administration’s limits on their federal deductions will likely be on hold for now, as an effort to include the measure in the COVID-19 aid package is poised to fail.

Claims for the R&D tax credit may be coming under closer scrutiny from the IRS.

Your clients may have heard conflicting advice — they must change their IRA beneficiaries, spend down their IRA as soon as possible, dismantle their trust, or immediately convert their traditional IRA to a Roth IRA, Sophia Duffy writes.

Senator Elizabeth Warren will join the Finance Committee, an A-list Senate panel that oversees tax, trade and health care legislation, according to a person familiar with the assignment.

Tax professionals are starting to hear questions from their clients ahead of the official start of tax season about a variety of issues related to COVID-19.

The Treasury Secretary-designate said she would work with lawmakers to fast-track a series of tax increases on corporations and wealthy Americans.

Sen. Ron Wyden, D-Oregon, who is chairing the Senate Finance Committee now that Democrats have won control of the Senate, described some of his policy priorities, including the tax area where his committee has oversight.

With the filing season upon us, a raft of brand new challenges await ahead of the April 15 deadline.

The Internal Revenue Service sent a set of recommendations to Congress for how it plans to carry out the far-reaching set of reforms.

President-elect Joe Biden’s plan to pass a multitrillion-dollar economic stimulus package early in his administration faces challenges in a closely divided U.S. Senate, with a potential impeachment trial for Donald Trump that could add to delays.

The Internal Revenue Service is increasing many of the fees for requests for private letter rulings by 26.7 percent, starting Feb. 4.

Given the size and number of tax changes proposed by the Biden administration, it’s no wonder advisors face challenges in helping clients prepare for the year ahead.

This notice and the expected regulations to follow could add to the movement to repeal or modify the cap.

This collection brings together the best advice from a host of experts for tax pros to share with their clients before the end of the year.

Even with just a few days remaining in 2020, a trustee can still employ tax-saving strategies.

Concerns about rising tax rates under the incoming Biden administration are a major factor.