Tax Strategies

In my consulting activity the last few months of 2012, I saw the emerging symptoms of a new disorder in many family business owners: Post-Traumatic Gift Disorder, or PTGD.

President Obama appealed to Congress to balance tax reforms with spending cuts to avoid the painful automatic cuts imposed by the budget sequester deal.

Members of Congress have re-introduced legislation aimed at pressuring online Web sites to charge sales taxes to out-of-state customers, combining three competing bills that were introduced in the previous congressional term.

Representatives of various charities and nonprofits presented a case for preserving charitable deductions in the Tax Code in a hearing before the House Ways and Means Committee, arguing that imposing a cap on such deductions would cause many of them to cut back services at a time of critical demand.

Accounting and advisory firm Marcum LLP has introduced an interactive online map that tracks the status of same-sex marriage in each of the 50 U.S. states and how such unions are treated for tax purposes.

U.S. Tax Court Judge Elizabeth Paris handed the taxpayers a victory last Thursday involving a powerful estate tax planning tool: private annuities.

The Organization for Economic Cooperation and Development is pointing to wide disparities in the low tax rates paid by many multinational corporations compared to the taxes paid by individuals and small businesses.

President Barack Obama called for tax reform as a way to temper drastic automatic budget cuts during his State of the Union address.

The Internal Revenue Service Oversight Board issued a warning to Congress that the IRS is operating in a high-risk environment, with budget constraints leading to lower staffing levels and reduce customer service for taxpayers.

A pair of influential Senate Democrats have introduced legislation aimed at stopping multinational corporations from taking advantage of tax havens abroad.