Tax planning

The Internal Revenue Service has released a favorable private letter ruling allowing WTP Exchange, an affiliate of WTP Advisors, to provide both like-kind exchange software and qualified intermediary services.

For years, you’ve been hearing that you should include financial services among your tax or accounting practice’s service offerings.

Social media sites Facebook and LinkedIn are enjoying massive tax breaks on stock options, according to recent reports.

Accounting firm ParenteBeard has launched a Small Business Tax Toolkit offering online advice to small business owners who are looking for guidance on their taxes.

Last year, about $450 million belonging to top executives at billionaire hedge fund manager John Paulson’s New York firm took a quick round trip to Bermuda.

In my consulting activity the last few months of 2012, I saw the emerging symptoms of a new disorder in many family business owners: Post-Traumatic Gift Disorder, or PTGD.

President Obama appealed to Congress to balance tax reforms with spending cuts to avoid the painful automatic cuts imposed by the budget sequester deal.

Members of Congress have re-introduced legislation aimed at pressuring online Web sites to charge sales taxes to out-of-state customers, combining three competing bills that were introduced in the previous congressional term.

Representatives of various charities and nonprofits presented a case for preserving charitable deductions in the Tax Code in a hearing before the House Ways and Means Committee, arguing that imposing a cap on such deductions would cause many of them to cut back services at a time of critical demand.

Accounting and advisory firm Marcum LLP has introduced an interactive online map that tracks the status of same-sex marriage in each of the 50 U.S. states and how such unions are treated for tax purposes.

U.S. Tax Court Judge Elizabeth Paris handed the taxpayers a victory last Thursday involving a powerful estate tax planning tool: private annuities.

The Organization for Economic Cooperation and Development is pointing to wide disparities in the low tax rates paid by many multinational corporations compared to the taxes paid by individuals and small businesses.

President Barack Obama called for tax reform as a way to temper drastic automatic budget cuts during his State of the Union address.

The Internal Revenue Service Oversight Board issued a warning to Congress that the IRS is operating in a high-risk environment, with budget constraints leading to lower staffing levels and reduce customer service for taxpayers.

A pair of influential Senate Democrats have introduced legislation aimed at stopping multinational corporations from taking advantage of tax havens abroad.

For taxpayers who scrambled to make last-minute gifts at the end of 2012 to take advantage of the gift tax exemption and lower tax rate, it was a good thing to do despite the fact that within 23 hours of year’s end, legislation passed averting the return to the old-law $1 million exemption and 55 percent maximum tax rate.

State budgets across the country collectively lost an estimated $40 billion in tax revenue due to corporations and individuals shifting their profits and income to offshore tax havens, according to a new report.

President Obama urged Congress to agree on a combination of tax reform and spending cuts to achieve deficit reduction during a speech Tuesday in which he proposed an alternative to the drastic automatic spending cuts that were part of the budget sequester deal.

U.S. financial institutions may see their reporting burdens rise as a result of a law designed to prevent taxpayers from hiding funds offshore.

What has almost 4 million words and is one of the most complex and least transparent documents of the century? Our Tax Code.