Tax

Last week the Tax Court, in a case of first impression, ruled that payments made by a decedent through a trust to pay premiums on life insurance policies obtained to fund buy-sell agreements should not be regarded as loans still owed to her estate.

As a general rule, the cost of commercial real estate improvements is recovered over a painfully long period of 39 years via straight-line depreciation only.

Could those Form 4868 extensions that you’re filing for your clients turn tax procrastinators into prey?

The Tax Foundation has released a report on proposals to integrate the corporate and individual income tax codes and how they might work in the context of congressional tax reform.

Liberty Tax Service has developed an executive task force to examine issues within the company “and take aggressive action” to ensure all franchisees meet the tax prep giant’s standards.

The Internal Revenue Service’s expanded use of controls this tax season to identify fraudulent refund claims before accepting them into its processing system has allowed the IRS to identify approximately 35,000 fraudulent e-filed tax returns and 741 paper tax returns as of Feb. 29, 2016, according to a new government report.

A senior Treasury Department official in charge of international tax policy is seeing a greater role being played by the Group of 20 finance ministers in setting the agenda for tax laws around the world.

You survived another tax season. After three months at the grind, here’s how your peers are lurching toward May.

Rep. Sander Levin, D-Mich., the ranking member of the tax-writing House Ways and Means Committee, and other House Democrats introduced legislation Wednesday to restore the estate tax and gift tax rate and exemption level to the same amounts as in 2009.

Uh-oh. You messed something up on your tax return. What now?