Tax strategies

The legislation is still tied up in the Senate, as senators seek changes in some of the provisions, such as the expanded Child Tax Credit.

Republican attorneys general from 13 states have signed a letter denouncing the IRS pilot of a Direct File system, calling efforts unconstitutional.

The measure now heads to the Senate where lackluster Republican support threatens to sink it.

Tax pros and taxpayers should be aware that the IRS is restarting its "collection notice stream."

Speaker Mike Johnson will allow a vote on a $78 billion business and child tax break bill, siding with corporations over a group of Republicans who objected to the package negotiated with Senate Democrats.

Financial advisors and tax professionals with clients who bet online or at casinos must guide them through the choice of classifying as amateur or professional.

A growing divide is emerging between Republicans and the business interests the GOP once unflinchingly championed.

The House Ways and Means Committee reported the text of the Tax Relief for Workers and Families Act after voting last week to advance the bipartisan bill.

Congress moved one step closer to enacting $78 billion in business and child tax breaks Friday, although election-year politics add risk to the legislation's prospects.

The former IRS contractor who stole and leaked the tax returns of former President Trump and other billionaires believed Americans had a right to the information, his lawyers told a judge.

As tax-friendly as the rules are for HSA funds during an individual's lifetime, they can become much more punitive for funds left over after the original account owner dies.

Businesses eager for a tax deal announced by two powerful U.S. lawmakers can't yet bank on the corporate breaks.

The chairs of Congress' two main tax committees announced a deal to extend a number of expired tax credits and tax breaks, including the expanded Child Tax Credit.

The Internal Revenue Service provided initial guidance to aid employers in establishing pension-linked emergency savings accounts, an outgrowth of the wide-ranging SECURE 2.0 Act of 2022.

It was an eventful 12 months for practitioners, with new legislation, regulations, court decisions and IRS pronouncements all impacting the tax landscape.

The failure of the leaders of the Ivy League universities to condemn antisemitism could affect their tax-exempt status, the chairman of the House Ways and Means Committee said.

Negotiators are nearing a bipartisan deal in time for many voters to receive the benefits during the current election year.

What you don't know can hurt you as it pertains to your clients as well as your own life insurance portfolio.

The New York governor called for a new tax break to promote affordable housing and increase support for fighting crime in New York City.

The global 15% minimum tax will reshape the landscape for global companies that shift profits around the world.