Displaying 133 results
IRS losing the battle over mega-IRAs as company founders fill retirement accounts with nonpublic stock
Outgoing Senate Finance Committee chair urges IRS, Treasury to step up.
Caution: New IRS rules for IRA rollovers come with risks for advisers
Guidance from the IRS on its one-IRA-rollover-per-year rule requires advisers to know where clients' money has been or risk a snafu that could sever that relationship.
Tax chief tells Congress to renew tax extenders soon or risk filing-season delay
If IRS Commissioner John Koskinen could set the agenda for the upcoming lame-duck session of Congress, he would make renewal of dozens of expired tax breaks the priority. If Congress doesn't act before the end of November, filing season could be postponed, giving taxpayers a big headache.
Strategies arise to take advantage of new IRS after-tax rollover
Though after-tax dollars in a 401(k) can now be rolled into a Roth IRA, few employers accept such contributions.
Advisers embrace liquid alts to navigate Fed policy
Breakfast with Benjamin: Advisers go liquid to navigate Yellen Fed policy. Plus: Global stocks are loving the Fed's latest non-move, energy stocks ride high on the unrest in Iraq, an IRS excuse that the IRS would never accept from you, and political correctness has the Washington Redskins surrounded.
Global consumer confidence soars
Plus: Credit Suisse exits the commodities trading business, Allianz stands by Bill Gross, silver has a golden summer run, three taxes we can all dislike together, and don't let tourist scams rain on your vacation
Barclays looks like the latest bank to back away from commodities trading
Breakfast with Benjamin: Barclays backing away from commodities. Plus: Goldman hangs tough in the commodity-trading arena, getting esoteric with income investing, riding on an M&A high, and IRS bonuses whether you've paid your taxes or not
When searching for investment advice, consumers are drawn to the alphabet soup of credentials
Breakfast with Benjamin: Consumers drawn by alphabet soup of adviser credentials. Plus: Job cuts continue at Barclays, pushing for nationwide fracking, a big retirement risk, commodity hedge funds take a beating, and another smidgen of bad news for the IRS.
IRS eases retirement loan procedures for Sandy victims
People affected by Hurricane Sandy, or their close relatives, can tap qualified retirement plans without having to follow certain procedures for hardship withdrawals, the Internal Revenue Service said.
Recession reduced wealthy’s income while raising tax rate
A CBO report has found that the before-tax income of top earners fell by 36.3% between 2007 to 2009 while their tax rate rose
Freeing some seniors from required IRA distributions is worth the cost: J. Mark Iwry
Worth the cost? Proposal would exempt from required IRA distributions seniors with less than $75,000 in retirement assets
Social Security’s coming crisis quantified: $20.5 trillion
The $20.5 trillion fiscal gap separating Social Security's liabilities and assets -- its unfunded liability -- is enormous; it is 1.4 times U.S. gross domestic product and 34 times annual Social Security taxes.
Couple who donated home for firefighters feeling burned by IRS
A Virginia couple who donated their house to local firefighters for a training exercise can't deduct the property's value from their federal income taxes, a divided U.S. Tax Court has ruled
CPAs seek estate tax certainty from Congress
CPAs say uncertainty impedes proper estate planning, places undue burden on taxpayers
U.S. Senate’s Baucus sees opportunity to reshape tax code
'Out of control' tax code needs to be updated for this century: Senator Max Baucus
Gay-marriage laws leave disparities in federal tax treatment
A same-sex marriage law that took effect July 24 in New York doesn't mean those couples can count on the same tax treatment that heterosexual unions receive, a discrepancy that some lawmakers and companies are seeking to mitigate.
Don’t suffer an IRA tax faceplant
Mistakes with retirement account taxes are common with IRS rules so complex
Death and taxes collide as fatal crashes mount on IRS filing day
Deaths from traffic accidents around April 15, traditionally the last day to file individual income taxes in the U.S., rose 6% on average on each of the last 30 years of tax filing days compared with a day during the week prior and a week later.
Buffett’s NetJets countersued by U.S. for unpaid taxes
The government has countersued NetJets Inc., owned by Warren Buffett's Berkshire Hathaway Inc., after the company filed suit over $642.7 in taxes, interest and penalties it says it doesn't owe.
Republican tax break pruning complicates extensions outlook
Debate continues over more than $30 billion in so-called tax extenders, such as the research and development tax credit and the ability for financial services companies to defer taxation on income earned outside the U.S.
