The IRS is working on new rules that could require paid tax preparers to be licensed to improve tax compliance and reduce fraud, IRS Commissioner Doug Shulman announced today.
Your client is considering either a surrender or sale of a life insurance policy and asks about the income tax consequences.
The Department of the Treasury's recently re-leased “Green Book” describes in detail the revenue proposals contained in the president's budget for fiscal-year 2010.
Your clients have filed their 2008 federal and state tax returns. Now, you and the couple are wondering whether there are any improvement to their home they could make that would help them taxwise.
In an effort to energize the economy, stimulus checks are being mailed to millions of people. Unfortunately, thousands of the recipients are dead.
Just when market conditions appear to be stabilizing, financial advisers now have something else to keep them awake at night: Both Social Security and Medicare are on a pace to disappear even sooner than expected.
Wealth managers and tax attorneys are advising wealthy clients who may need to minimize gift and estate tax payments to consider taking advantage of a popular tax-planning tool while they still can.
Your clients are sitting on the edge of their seats, anxiously awaiting word of how the alternative minimum tax will affect them.
For decades, the U.S. retirement system was described as a three-legged stool.
This is a good time during the year to discuss the Internal Revenue Service deductibility rules for charitable contributions with clients, as they are all probably being inundated with mail and telephone solicitations for donations.
More than $24 billion in additional estate taxes would have to be paid from fiscal 2010 to fiscal 2019 under a budget proposal for the next fiscal year released Monday by the Obama administration.
President Obama’s <a href= http://ciedit.cr.atl.publicus.com/apps/pbcs.dll/article?AID=/20090504/FREE/905049995&NoCache=1>proposal</a> to rein in tax deferrals for U.S. corporations doing business overseas will have a negative impact on the ability of financial services firms to compete worldwide, according to the Financial Services Roundtable.
Car dealers are heavily promoting new car sales. Your client is thinking this might be the right time to buy and wants to know whether the tax incentives for buying a new car are worth it.
While charitable giving using the Internet continues to rise, the pace is slowing down due to the recession, according to a survey published yesterday by The Chronicle of Philanthropy.
Some dividends aren't dividends at all. Sometimes they are a distribution known as a return of capital, which are actually returns <i>of </i>an investment instead of returns <i>on </i>an investment.
Your client filed her federal tax return by April 15 but did not include a check for the amount due, because she did not have funds available. She has come to you for advice as to how to proceed.
What’s the future of the estate tax after 2009? This is a question that your clients have probably been asking a lot lately because the estate tax is scheduled to sunset in 2010 and then rise again like a phoenix in 2011 at higher tax rates and with a substantially lower unified exemption credit equivalent, or estate tax exemption, of $1 million.
Middle-class taxpayers likely will face a wide swath of tax increases in the years ahead, according to economists at The Brookings Institution.
