Tax deductions

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.

Handicapping which tax credits and other provisions will stay in the Build Back Better package.

Advocates say they'll continue pushing for the write-off, but it is not widely popular.

For business use and medical purposes, they’re up by at least 2 cents.

A host of provisions will expire at the end of the year, and there's no telling whether they'll be renewed, says Wolters Kluwer's Mark Luscombe.

The pandemic-related tax provision permits more people to deduct donations to qualifying charities on their 2021 federal income tax return.

Five tips can help charities carry out effective fundraising programs.

Key negotiators continue to clash over the specific income limits for one of the unresolved issues in President Joe Biden’s economic agenda.

Eliminating the revenue-raising R&D amortization provision in the 2017 tax reform is the best way forward for U.S. innovation.

Senate Democrats negotiating an expansion of the state and local tax deduction aren’t near a deal, raising the prospect that talks will spill into next week — and potentially next year.

Here's a rundown of the most important changes poised to take effect five weeks from now, and how to take advantage of them or at least minimize the pain they could cause.