Tax Strategies

Your clients may have heard conflicting advice — they must change their IRA beneficiaries, spend down their IRA as soon as possible, dismantle their trust, or immediately convert their traditional IRA to a Roth IRA, Sophia Duffy writes.

The Internal Revenue Service issued guidance on how educators can deduct out-of-pocket expenses for personal protective equipment to safeguard teachers in the classroom during the pandemic.

Senator Elizabeth Warren will join the Finance Committee, an A-list Senate panel that oversees tax, trade and health care legislation, according to a person familiar with the assignment.

The Consolidated Appropriations Act includes a surprising number of tax provisions, many of which had not been widely publicized until the final bill was up for a vote.

The European Union is seeking to overturn Apple Inc.’s victory in a 13 billion-euro ($15.7 billion) tax dispute, saying judges used “contradictory reasoning” when they found that the company’s Irish units weren’t liable for huge payments.

Our panel of experts have identified these 12 credits, deductions and more as worth particular attention this year.

Colleges and universities that changed from for-profit businesses into tax-exempt nonprofits are prompting questions about the continuing involvement of former owners and officials.

Two New Jersey Democrats are leading an effort to expand a valuable tax break for state and local levies in the next virus-relief package, a long-shot effort as lawmakers continue to squabble over the size and scope of the next round of stimulus.

Tax professionals are starting to hear questions from their clients ahead of the official start of tax season about a variety of issues related to COVID-19.

The Internal Revenue Service hasn’t been properly vetting millions of dollars in deductions that could be erroneous, according to the inspector general.