Tax strategies

The Internal Revenue Service posted information about how to correctly compute the new exclusion on a portion of unemployment income as Congress pushes the IRS for further tax-filing relief.

Estate planners are keeping a close eye on the department’s agenda, anticipating the possible revival of several regulatory projects shelved by the Trump administration.

It’s not just $1,400 checks. Here’s what advisors need to know about other financial perks in the massive stimulus package.

Roth conversions and backdoor Roths ease COVID financial pain for wealthy earners this tax season

New York lawmakers could take on a politically weakened governor to push their own budget agenda, including a more progressive tax policy targeting the ultra-wealthy.

The House Oversight and Reform Committee is probing whether executives at four drug industry companies plan to use a pandemic-related tax break to deduct opioid settlement payments.

Senator Elizabeth Warren said IRS funding should be bolstered so the richest Americans get audited about once every three years as part of her proposed 2 percent annual tax on wealth in excess of $50 million.

A Biden proposal to change the tax deduction for contributions to a tax credit could have serious implications.

Senator Elizabeth Warren, joined by Reps. Pramila Jayapal and Brendan Boyle, proposed a new wealth tax on households with a net worth of more than $50 million.

The uncertainties in the year ahead are making it difficult for corporate tax executives to decide exactly what to do, given the challenges surrounding COVID-19.

Senate Majority Leader Chuck Schumer is weighing adding a provision to the $1.9 trillion COVID-19 relief plan that would put a penalty tax on big companies that don’t pay workers at least $15 an hour, a Democratic aide said on condition of anonymity.

To best serve your clients, and your own firm, these are the top items to closely monitor in the year ahead.

Maneuvers played out across the country as census tract boundaries were changed to accommodate wealthy investors whose projects fell outside the lines of roughly 8,700 opportunity zones. About 140 tracts grew in size.

More and more accountants are recommending their homeowner clients consider solar panels. Here’s why.

Right out of the gate, this year has provided some intriguing storylines that undoubtedly will have ripple effects when tax pros sit down with their clients next winter.

A COVID-wrecked economy has changed the calculus for some financial planners.

Progressives are eyeing tax measures including an increase in the capital-gains levy.

You can provide a bit (coin) of good news for clients with outsize short-term gains from alternative assets.

The agency’s commissioner is upbeat, but tax preparers and financial planners worry that this year could be especially chaotic due to the COVID pandemic.

Amid regulatory change, margin pressure and technological shifts, private equity firms need to rethink their approach to tax and finance functions. Petter Wendel, EY global tax private equity leader, shares how based on findings from the 2020 EY Tax and Finance Operate Survey.