A Biden proposal to change the tax deduction for contributions to a tax credit could have serious implications.
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Feed SubscriptionTax executives have trouble plotting strategy this year
The uncertainties in the year ahead are making it difficult for corporate tax executives to decide exactly what to do, given the challenges surrounding COVID-19.
Read More »Tax season: What the IRS says clients and advisors can expect
The agency’s commissioner is upbeat, but tax preparers and financial planners worry that this year could be especially chaotic due to the COVID pandemic.
Read More »YouTube star deserts California for Puerto Rico over taxes
The pandemic has fueled a dramatic new wave of high-profile migration, sending tech workers to Texas, Wall Street types to Florida — and now YouTube provocateur Logan Paul to Puerto Rico.
Read More »Tax policy shifting this year under Biden
The Biden administration is likely to dramatically change its approach to tax policy, with the first step in the stimulus package it began pushing through Congress this month.
Read More »SALT-cap repeal unlikely to be added to COVID-19 relief bill
Hopes among millions of upper-income and middle-class taxpayers for a repeal of the Trump administration’s limits on their federal deductions will likely be on hold for now, as an effort to include the measure in the COVID-19 aid package is ...
Read More »Tax pros face complex planning questions from pandemic
Tax professionals are starting to hear questions from their clients ahead of the official start of tax season about a variety of issues related to COVID-19.
Read More »Wyden lays out Senate tax priorities
Sen. Ron Wyden, D-Oregon, who is chairing the Senate Finance Committee now that Democrats have won control of the Senate, described some of his policy priorities, including the tax area where his committee has oversight.
Read More »IRS reports progress on Taxpayer First Act compliance
The Internal Revenue Service sent a set of recommendations to Congress for how it plans to carry out the far-reaching set of reforms.
Read More »IRS ups fees for private letter rulings
The Internal Revenue Service is increasing many of the fees for requests for private letter rulings by 26.7 percent, starting Feb. 4.
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