Wealth management

The Internal Revenue Service and the Treasury Department plan to amend the required minimum distribution regulations under Section 401(a)(9) of the tax code to address the use of lump sum payments to replace annuity payments being paid by a qualified defined benefit pension plan.

Wealthy people have lots of ways to avoid the estate tax. But a federal judge says one family got a little too creative in dodging its tax bill.

As your clients’ most trusted adviser, how can you protect them from the financial threat and high costs of long-term care?

Accountants are often selected as trustees of trusts for their clients. But before agreeing to act as trustee, the accountant should understand the time constraints and obligations of a trustee, along with other potential pitfalls, including trust scams.

Accountants get unusual views of human frailty and baseness of character. Most of our interactions are stimulating and propel us to growth, but some expose others’ weaknesses and extremely poor personal judgment.

Singer-songwriter Robyn Rihanna Fenty may be sending a chilling message to her former accountant in her new music video B*tch Better Have My Money. Rih-Rih kidnaped, tortured, and had a marijuana love fest with a high net-worth woman, who turns out to be the wife of Rihanna’s former accountant, aka “The B*tch.” …

Americans donated an estimated $358.8 billion to charities last year, according to the annual Giving USA report, the highest total ever in the 60-year history of the report.

Taking the lead among your clients’ many advisors

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

In a 5-4 ruling, the Supreme Court held in Obergefell v. Hodges that the 14th amendment requires all states to license a marriage between two persons of the same sex, and to recognize same-sex marriages validly performed out of state.

More than half of Americans admitted to postponing a major life decision, such as enrolling in higher education, retiring or starting a family, because of financial reasons, according to a new poll from the American Institute of CPAs.

Financial fraud perpetrated against the elderly is on the rise, according to a new survey of CPA financial planners.

Businesses and certain individuals with foreign investments need to file a new form with the government by June 30 or else face stiff penalties.

Professional advisors need to be more protective -- of both their practices and their clients, according to HD Vest president and CEO Roger Ochs.

The Internal Revenue Service has released final regulations on the portability of a deceased spousal exclusion amount for surviving spouses facing estate and gift taxes.

The Internal Revenue Service has added some types of grantor trusts to the list of areas in which it does not plan to issue letter rulings or determination letters.

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

The U.S. Department of Labor proposed new fiduciary rules in April that significantly affect IRA advisors, including accountants who render advice to holders of individual retirement accounts.

As accountants pay increased attention to evaluating the performance of a client’s life insurance portfolio, life insurance is becoming recognized as a “buy and manage” asset rather than as a “buy and hold” asset.

The digital edition of the June 2015 issue of Accounting Today is now available.