Tax

Mark Luscombe offers an in-depth look at the many tax angles of the American Rescue Plan.

Roth conversions and backdoor Roths ease COVID financial pain for wealthy earners this tax season

UBS Group AG questioned investigators’ dealings with a whistleblower who provided documents and evidence about an event for wealthy clients at the French Open that helped lead to a record 4.5 billion-euro ($5.4 billion) penalty.

Now is a great time to start helping clients plan for their financial futures.

Leaders of the House Ways and Means Committee and accounting groups are calling for extending the tax deadline to give the IRS, taxpayers and tax professionals an extra three months.

Confusion around the program and other stimulus measures may be preventing small businesses from getting the help they need.

Overpromising and missing deadlines is a guaranteed way to disappoint clients.

President Joe Biden is on the cusp of his first legislative win with the House ready to give final passage to his $1.9 trillion COVID-19 relief plan. It includes a big expansion in the child tax credit and makes student loan forgiveness tax free.

Senate Democrats passed the latest version of the $1.9 trillion stimulus bill after a more than 24-hour voting session that included the longest single vote in the chamber’s history.

The American Institute of CPAs is asking the Treasury Department and the Internal Revenue Service to push back the tax filing and payment deadline for two months.