Tax Strategies

Is it too early to start thinking about tax extenders? Not according to Kathleen King, managing director of Alvarez & Marshall Taxand’s Washington, D.C., office.

House Ways and Means Committee members Charles Boustany, R-La., and Richard Neal, D-Mass., have released a bipartisan proposal to create a so-called “innovation box,” a lower tax rate on income derived from intellectual property to encourage more multinational companies to keep intangible assets in the U.S.

Lyle Benson of L.K. Benson & Co., who chairs the AICPA's PFP section, discusses the main personal financial planning issues identified by the AICPA's PFP section of concern to CPAs, in an interview with Accounting Today editor-in-chief Dan Hood.

Hillary Clinton wants to raise capital gains taxes to encourage long-term investment, making it more expensive to sell stocks held for less than six years and adding complexity to the U.S. tax system.

Hedge fund manager Daniel Loeb was singled out for criticism by labor leaders who are urging the U.S. to limit investors’ ability to lower tax obligations through offshore reinsurance ventures.

Senate Finance Committee chairman Orrin Hatch, R-Utah, and ranking Democratic member Ron Wyden, D-Ore., said Friday the committee will markup a tax extenders bill next Tuesday.

“In every country I’ve been in, real estate is the best tax shelter,” said Tom Wheelwright, CPA, an advisor and speaker at Robert Kiyosaki’s Rich Dad Poor Dad seminars, and a contributor to Donald Trump’s Wealth Builders Program.

A new government report urges the Internal Revenue Service to do a better job of educating and notifying taxpayers about provisions of the tax code requiring them to begin taking minimum distributions from their Individual Retirement Arrangements when they reach a certain age, but the IRS responded that it lacks enough money in its budget to do so.

Hillary Clinton on Monday outlined a plan for economic growth focused on the middle class and signaled she'll be offering an extensive set of proposals to rein in Wall Street in one of the first major policy speeches of her presidential campaign.

The Internal Revenue Service and the Treasury Department plan to amend the required minimum distribution regulations under Section 401(a)(9) of the tax code to address the use of lump sum payments to replace annuity payments being paid by a qualified defined benefit pension plan.