Tax

Well-off professionals in costly areas of the U.S. are set to get a windfall from competing plans to change the deduction limit for state and local taxes.

A lawyer who questioned the software billionaire in an antitrust lawsuit supported prosecutors who fake dementia to avoid trial on tax-evasion charges.

Sen. Bernie Sanders is working on a proposal to set an income threshold for an unlimited state and local tax deduction.

Keeping your peeps; Better’s economic impact; new to us; and other highlights from our favorite tax bloggers.

The new act impacts cryptocurrency, the Employee Retention Credit and tax deadlines.

The service has increased the number of transcripts that tax professionals can order per client to 30, up from 10 previously.

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.