Tax

Athletes from countries across the globe competing in the World Cup may be going home with an unwelcome prize this year: a hefty tax bill from the United States.

A three-day hearing on the U.S. Trade Representative's latest plan to impose tariffs on major trading partners kicks off in Washington on Tuesday.

The federal scholarship tax credit is set to take effect on Jan. 1, 2027, with proposed regulations expected by the end of September.

The Trump administration is touting its tax-advantaged investment accounts, but critics say the accounts may only reach those who are already set in life.

The tax-advantaged accounts are available to all minors who are U.S. citizens, with a $1,000 seed contribution for children born between 2025 and 2028.

Once the IRS believes the conduct was willful, a taxpayer's legal training, government position or role of public trust can make the case far more damaging.

The Treasury is considering rules on taxation of college endowments and changes to treatment of R&D costs, bonus depreciation and caps on business interest deductions.

Red flag returns; dubious dental surgeries; high percentage of refunds; and other highlights of recent tax cases.

As the July 4 launch date nears when clients can start contributing to Trump accounts, advisors discussed pros and cons of this method to save for children.

The Internal Revenue Service's Taxpayer Assistance Centers staff provided incorrect advice about the tax laws in nearly half the visits by inspectors.