Tax

Syndicated conservation easement deals cheat the IRS out of an estimated $250 million by overvaluing deductions.

President Joe Biden said anyone earning more than $400,000 a year would see a tax increase under his forthcoming economic program, highlighting the administration’s plans to address inequality in part through levies on the wealthy.

Companies that pay their chief executives at least 50 times more than the typical employee would face higher taxes under a new bill offered Wednesday by Senators Bernie Sanders and Elizabeth Warren.

The Treasury Department and Internal Revenue Service have distributed more than half of the $410 billion in stimulus payments to individuals that Congress approved earlier this month.

The Internal Revenue Service posted a Spanish version of its Form 1040 and instructions Tuesday and made available publications and online information in other languages.

For those with less than $150,000 in adjusted gross income who collected unemployment benefits this past year, the COVID relief bill allows them to receive up to $10,200 of those benefits tax-free.

An unacknowledged credit; potential estate tax changes; an ongoing EIN mess; and other highlights from our favorite tax bloggers.

The new venture enables CPA firms to help small-business owners secure employer-based tax help.

“Even the easy returns are not simple right now,” a CPA says.

Building the right balance calls for a three-phase approach: Create a safe space, apply lessons learned, and map a vision for the future.