Tax strategies

Thomson Reuters has released a tax-planning treatise for estate planners, Tax Planning for Family Wealth Transfers at Death: Analysis with Forms.

Taxpayers are expected to receive a modest amount of tax relief in 2015, thanks to the annual inflation adjustments provided under the Tax Code.

Rep. Mark Pocan, D-Wis., has introduced a bill that would help low-income married couples deduct twice as much of the interest charged on their student loan debts.

About 9,000 U.S. taxpayers have each accumulated at least $5 million in individual retirement accounts, said the Government Accountability Office, raising questions about some investors’ tax-advantaged returns.

As we approach the November elections, the end of the year and the beginning of a new tax season, we’re not much clearer on the fate of the provisions that expired at the end of 2013, aka the extenders, that haven’t yet been renewed.

Tax practitioners start preparing their year-end planning strategies

Regulations open availability of longevity annuity contracts

Bank of America Corp. must set aside $490 million of its $16.7 billion settlement to cover taxes that borrowers face on forgiven mortgage debt.

The Tax Court sided with the plaintiff in a recent case involving the rules surrounding the home office deduction.

Libra Services has released LibraTax, a new software solution that lets individuals and businesses that have transacted business in Bitcoin and other digital currencies to calculate their tax obligations.

In case you haven’t heard, National Grandparents Day is just around the corner, on September 7.

This year's tax planning is going to be heavily focused on accelerating deductions and maximizing tax credits, according to Evan Stephens, a tax manager at the business consulting and accounting firm Sensiba San Filippo.

Wolters Kluwer Financial Services has partnered with Broadridge Tax Services on combining their cost basis and tax reporting compliance systems.

Taking advantage of low AFRs before they're gone

Republicans are considering voting this year to repeal the U.S. estate tax, said House Ways and Means Chairman Dave Camp.

A pair of Democratic lawmakers have introduced a bill that would provide tax relief to student loan borrowers who have been granted debt relief after consistently repaying their student loan debt for at least 20 years, giving them an exemption from being taxed on the amount forgiven on the loans.

Rising education costs mean clients can’t pass these up

I remember the tax-cutting years in previous political eras. Those were the good old days. Now it’s easy to get the impression we have higher income taxes and an extra tax on investment earnings. But analyzing taxes and the reasons behind them are not that simple. Some brackets are actually lower today, and some taxpayers are paying at a higher rate while others are paying at a lower rate.

Thomson Reuters has released the 2014-2015 edition of its Tax Planning Guide, which accountants and tax professionals can distribute to their clients and prospects.

A federal appeals court has upheld a penalty assessed against the estate of a deceased man because the executor filed the return late, even though estimated taxes had been paid.