Tax deductions

The state and local tax deduction issue threatens to spark a showdown among Democrats as high-stakes Senate talks inch closer to a deal on President Biden’s economic agenda.

Investors who take a loss in a taxable account can use it to offset capital gains taxes owed from selling stocks that have appreciated.

With gas prices rising, the service announced an unscheduled increase.

Investors in digital assets have been pummeled recently by the longest losing streak since 2011, but if they act promptly, they can cut their tax bills.

They are pushing to help truckers, Uber and Lyft drivers, and other transportation businesses as they struggle with soaring gas prices.

Corralling social media; federal tax outlook; the cannabis business; and other highlights from our favorite tax bloggers.

The Supreme Court declined to review a New York-led constitutional challenge to the $10,000 cap on state and local tax deductions imposed by Congress in the 2017 tax law.

Practitioners share what those who want to start their own business know — and don’t know.

The service had denied deductions for eco-friendly model home because of occasional personal use by the owners.

Business owners and accountants alike can look to take advantage of certain deductions and expenses.

Accounting firms and their clients are growing worried about upcoming changes in the ability to deduct research and development costs and are asking Congress to do something about it.

A major promoter of land conservation deals and six others were indicted as the IRS escalated a crackdown on what it says are fraudulent syndicated deals.

Two House Democrats have a new plan to provide a more generous state and local tax deduction.

Under IRS rules, donors can both deduct the value of the gift and avoid any capital-gains tax on the investment.

The Golden State is poised to restore corporate tax breaks and extend its workaround for the federal cap on deductions for state and local taxes.

The service is working on text bots and chat bots to improve access, and managing issues around the ACTC and EIPs.

Things are going to get difficult, and practitioners shouldn’t expect help from the IRS, experts warn.

A Tax Court case illustrates the complexity of deciding when, exactly, a business becomes a good concern in the eyes of the IRS.

Several House Democrats promise to sink President Biden’s economic agenda if doesn't include an expansion of the federal deduction for state and local taxes.

Democrats risk losing their edge in key suburban districts amid a stalemate that threatens plans to expand a tax break for well-off homeowners.