Tax strategies

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

A large number of important tax changes go into effect this year. Many were ushered in by the Protecting Americans from Tax Hikes (PATH) Act of 2015, although legislation enacted earlier in 2015 and in 2014 also contributed a fair share. Still other changes are the result of various administrative pronouncements by the IRS.

Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, along with a group of other Senate Democrats, have introduced legislation to make the Saver's Credit into a refundable tax credit to help more working families and middle-class Americans save for retirement.

The American Institute of CPAs has sent comments to the Internal Revenue Service and the Treasury Department asking for changes in the IRS’s draft Form 8971, Information Regarding Beneficiaries Acquiring Property from a Decedent, and draft instructions.

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

Modified extenders may require revised planning to maximize benefits.

Samuel Wyly’s lawyer, fighting a $2.2 billion claim by the Internal Revenue Service, told a skeptical judge that his client’s tax planning was “aggressive but not illegal.”

While the passage of this season’s extenders bill was widely anticipated before the end of 2015, it nevertheless contained some surprises for many observers.

Johnson Controls Inc., already exiting the auto-industry’s supply chain after decades as a key player, is now seeking to shed its U.S. corporate citizenship in a multibillion-dollar tie-up with Tyco International Plc.

Tax reform is on the horizon, but the horizon likely extends beyond 2016, according to Marc Gerson, tax partner at Miller & Chevalier and former majority tax counsel to the House Ways and Means Committee.

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

Clients often think that because their passion automatically equals a business -- but tax authorities are sticklers for precise terminology.

With tax season set to start on January 19, there are a number of important tax changes that taxpayers and preparers should be aware of to help make the filing process as smooth as possible.

Democratic presidential candidate Hillary Clinton’s call Tuesday to increase taxes on the wealthy and close “loopholes” didn’t address the candidate’s own moves to shield at least part of the value of her New York home from the estate tax.

The three lucky winners of the record-breaking $1.6 billion Powerball jackpot will need some help with their taxes this year, next year, and probably the years to come.

President Obama proposed to expand tax cuts for low-income workers who don’t have children during his State of the Union address.

Billionaire John Paulson’s New York hedge fund firm has shut an operation in Bermuda that had been targeted by a Democratic lawmaker as a tax shelter.

Democratic presidential candidate Hillary Clinton on Monday tweaked opponent Bernie Sanders for not yet releasing his tax proposals, adding yet another issue to her list of policy complaints about the Vermont senator who is rapidly gaining on her in many polls.

Hillary Clinton is calling for a 4 percent tax surcharge on Americans making more than $5 million annually, a move that would lead to the highest top U.S. income tax rate in 30 years.

Former billionaire entrepreneur Samuel Wyly’s “difference of opinion” with the Internal Revenue Service could turn an offshore fortune into an onshore fraud if the agency gets its way.