Tax

New guidance on the temporary 100% deduction is available in Notice 2021-63.

The service agreed to ease its policies for low-income taxpayers who are trying to settle their tax debts and still get tax refunds.

Amid the pandemic, staying informed about life insurance strategies with trusts and estates is critical.

The agency has cleared out much of its mammoth backlog of unprocessed returns, but scores of individuals and small business owners remain in limbo.

Legislators are anticipating the Congressional Budget Office projections, which will be released by Friday.

The tool will help U.S. withholding agents comply with their reporting and withholding responsibilities with Form 1042-S.

Sales taxes have risen to an average of between 25% and 35% across countries that are part of the OECD, according to a new report.

In 2018, when federal agents raided the Bermuda home of his trust manager, leading ultimately to Robert Brockman’s indictment on charges of evading taxes on $2 billion, prosecutors say he began assembling evidence that his mind was failing. If true, he could be excused from standing trial in the largest such case in U.S. history.

Despite a host of issues, they aim to vote this week on the roughly $2 trillion tax and spending bill.

Donor-advised funds increased their donations to charities last year in response to the COVID-19 pandemic, hitting the biggest levels in over a decade.