Tax Strategies

Grants to charities from donor-advised funds grew 28% last year, according to a new report, as DAFs also come under scrutiny for helping the wealthy shield their money from taxes.

Republicans — who are expected to control the House as of January — want tax breaks for private equity, manufacturers and businesses. For their part, Democrats want to expand the child tax credit.

Businesses are lobbying hard for Congress to pass a package of tax breaks worth about $100 billion before the end of the year.

Democrats' hopes for tax increases on the wealthy and corporations would be dashed should Republicans take at least one chamber, and prospects diminish for a windfall profits tax on oil companies.

Taking the prize in annual installments over 29 years, rather than all upfront, dramatically increases the windfall. Lottery victors with seven-figure winnings can also reduce their tax bill.

By keeping an eye on the future and potential new tax developments, tax advisors can offer their clients a sense of stability and proactive tax planning.

There's no sugarcoating the stock market's 20% plunge, but there is a small consolation prize: one of the best opportunities in years to lower tax bills.

The IRS is projecting that the annual gross tax gap in 2014-2016 of $496 billion jumped to $548 billion for 2017-2019.

The flow of money from private foundations to donor-advised funds has jumped substantially in recent years, highlighting the increasing use of a controversial loophole in charitable law, a new audit shows.

One of the world's largest machinery producers, has struck a deal with U.S. tax authorities to end a dispute that stretches back to 2007.