Tax strategies

House Republicans are approaching their next attempt at tax cuts the same way they did last year — by excluding Democrats.

Governor Phil Murphy’s progressive agenda, outlined in his first New Jersey budget, depends on approval of $1.5 billion in new riches from Democratic lawmakers reluctant to increase residents’ financial burden in one of the highest-taxed U.S. states.

The Internal Revenue Service warns virtual currency users they need to disclose gains on their tax returns.

Talks continued on issues like a fix to the new tax law with just days remaining for House and Senate votes to avert a third shutdown this year.

Many preparers report a flood of early clients with questions about tax reform.

Sometimes the strategy can eliminate a domino effect of other expensive tax problems down the road, Ed Slott writes.

The Internal Revenue Service said Friday it’s ready to process tax year 2017 returns claiming four additional tax benefits recently renewed retroactively into law, including tax breaks related to energy conservation and production.

I hear the comment all the time, “If I do cost segregation, I’ll just give it all back in recapture when I sell.” Allow me to debunk that myth and more.

Three of America’s most discreet billionaire philanthropists have emerged as the biggest donors to the Goldman Sachs Philanthropy Fund after the IRS accidentally revealed their identities.

New Jersey Governor Phil Murphy proposed taxing online-room booking, ride-sharing, marijuana, e-cigarettes and internet transactions along with raising taxes on millionaires and retail sales to fund a record $37.4 billion budget that would boost spending on schools, pensions and mass transit.

The Internal Revenue Service provided additional information Tuesday to help corporate taxpayers deal with the new section 965 transition tax for repatriating foreign profits under the tax law that Congress passed in December.

The Internal Revenue Service said Tuesday it plans to close the 2014 Offshore Voluntary Disclosure Program on Sept. 28, 2018 and will start winding it down before that date.

Clients may face unexpected tax consequences from transactions with these digital assets.

The Illinois CPA Society has some advice for taxpayers who are betting on the March Madness tournament and manage to win money on their picks for the brackets.

Congressional Republicans created a juicy new break for business owners when they rewrote the U.S. tax code late last year. Three months later, hundreds of thousands of U.S. employers still don’t know if they can claim it.

The Internal Revenue Service has tweaked some of its previously released brackets and limits.

A provision in the budget act could eliminate tax on their excess business holdings.

The Tax Cuts and Jobs Act removed a number of provisions that benefited companies.

Highly paid professionals including accountants, investment managers, doctors and lawyers are eyeing a loophole in what’s supposed to be a mom-and-pop benefit of the new tax law as a way to supersize their savings.

Treasury Secretary Steven Mnuchin’s plan to fix a gaping loophole for hedge funds in President Donald Trump’s new tax law could face legal challenges.