Tax

The chairs of Congress' two main tax committees announced a deal to extend a number of expired tax credits and tax breaks, including the expanded Child Tax Credit.

Retirement plan sponsors and their financial advisors receive guidance from the IRS on how the Secure 2.0 Act opened the door for "de minimis financial incentives."

The Internal Revenue Service provided initial guidance to aid employers in establishing pension-linked emergency savings accounts, an outgrowth of the wide-ranging SECURE 2.0 Act of 2022.

It was an eventful 12 months for practitioners, with new legislation, regulations, court decisions and IRS pronouncements all impacting the tax landscape.

In a change that may affect financial advisors and tax professionals' clients, the agency reversed course on a position it took seven years earlier.

In parallel with stricter enforcement, the tax authority is improving service for taxpayers and tax pros, and working on its technology.

Research shows mandatory overtime backfires.

Lawmakers are trying to drum up support to allow a debate on raising the state and local tax deduction cap as bipartisan tax package negotiations leave out those proposals.

Hunter Biden may face trial this summer in the middle of his father's election campaign after pleading not guilty to charges that he failed to pay taxes on millions of dollars in income from foreign businesses.

The service reported on its increased enforcement efforts on Friday, including collecting over half a billion dollars from millionaires who didn't pay their taxes.