Tax Strategies

The Democratic presidential nominee Joe Biden expressed optimism and hope about overcoming the economic crisis and other challenges during his acceptance speech at the virtual Democratic National Convention.

It’s not too early to start thinking about post-election tax planning.

The limitation on net operating losses under the 2017 tax reform were mostly reversed in the stimulus package in March, but there are some complexities to keep in mind.

President Donald Trump’s order to delay collection of payroll taxes thrusts a dilemma on U.S. companies: continue withholding the money from workers expecting bigger paychecks or pass it on and potentially put themselves or their employees at risk of a big end-of-year bill from the IRS.

The firm is awaiting a ruling in a case involving a manufacturing company owner who sued the firm for fraud, negligence and other claims after the firm failed to advise him of a tax strategy.

Businesses donating to charitable funds in exchange for a state tax credit can deduct those costs from their federal taxes, according to regulations released on Friday.

New York is seeking to dissolve the National Rifle Association as the state attorney general accused the gun rights group and its current and former senior officials of engaging in a massive fraud against donors.

Tamera Riperda, the commissioner who runs the Internal Revenue Service’s Tax Exempt and Government Entities division, is retiring on Sept. 30 after 33 years at the IRS.

U.S. Senator Bernie Sanders said he will introduce legislation to tax what he called the “obscene wealth gains” from billionaires during the coronavirus crisis.

The American Institute of CPAs joined with more than 170 organizations in asking congressional leaders to allow businesses to write off expenses associated with loan forgiveness under the Paycheck Protection Program.