Tax

Mayor Zohran Mamdani defended the rollout of a new tax on highly valued second homes in New York City, saying only property owners who receive a letter from city officials will be impacted by the levy.

By coordinating with a client's other financial professionals, such as lawyers and accountants, financial advisors have the potential to deliver even more value.

Democrats on the Senate Finance Committee plan to introduce an amendment prohibiting President Trump's audit immunity deal with the IRS during a markup hearing.

The Internal Revenue Service is highlighting the role of tipsters in exposing tax fraud and helping it recover unpaid taxes and strengthen tax compliance.

Cornyn and another GOP holdout, Senator Thom Tillis, want written changes to alter Trump's settlement with the IRS over leaks of his tax information in 2019.

He reported earning income of less than $5,000 in 2020, 2021 and 2022, but actually earned more than $7 million from his hedge fund, according to prosecutors.

Disagreeing with the IRS; daunting levels of debt; Sunshine State; and other highlights from our favorite tax bloggers.

Parents of 51.7 million children now qualify for the new Education Freedom Tax Credit for scholarships, according to a new estimate released by its proponents.

A documented compensation study protects a growing C corporation's biggest deduction from being recast as a dividend.

There's little consistency in how businesses across different countries can deduct their capital investments as depreciation, according to a new study.