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  • Taxpayers Underreporting Retirement Income

    February 8, 2012

    Clarifying Form 1099-R would help the Internal Revenue Service identify more taxpayers who are underreporting their retirement income, according to a new report.

  • Taxpayers Concerned about Security of Online Tax Filing

    February 7, 2012

    A majority of taxpayers are concerned about the security and privacy of their personal and financial information when filing their state and federal tax returns online, according to a new survey.

  • Exclusive: Obama Still Wants a Muni Cap

    February 1, 2012

    President Obama’s fiscal 2013 budget will propose a 28% cap on the value of tax preferences, including tax-exempt interest for municipal bonds, according to knowledgeable sources.

  • Most Americans Still Support Retirement Savings Tax Incentives

    January 25, 2012

    The vast majority of U.S. households — regardless of demographic and financial characteristics — overwhelmingly support preserving the nation’s current tax incentives to encourage retirement savings.

  • Turning Highly Appreciated Assets Into Reliable Income

    January 20, 2012

    As tax time approaches, many clients are wondering what to do with their most highly appreciated assets. If they are charitably minded, those assets can be converted into reliable streams of income through charitable trusts.

  • Praying for an AMT Patch

    January 17, 2012

    In recent years, the federal government has created an AMT “patch” to help exempt millions of Americans from getting caught. But planners should note that lawmakers haven’t moved to create a patch for 2012.

  • Why Planners Should Accelerate Client Income in 2012

    January 12, 2012

    It's time to think about accelerating clients’ income for 2012 in anticipation of higher taxes for 2013 and beyond, according to the founder of one of the nation’s largest RIAs.

  • IRS Increases Audits of High-Income Taxpayers

    January 6, 2012

    The Internal Revenue Service has increased its audits of taxpayers at upper-income levels.

  • 6 Year-End Gifting Rules Every Investor Needs to Know

    December 29, 2011

    The principle behind the annual gift tax exclusion is to shelter gifts commonly made on birthdays, holidays, weddings and other special occasions. However, many high-net-worth individuals may also utilize the annual gift tax exclusion as a strategy to mitigate the impact of future estate taxes.

  • Why Tax-Compliant Clients May Soon Find it Harder to Live Abroad

    December 29, 2011

    Planners should pay close attention to a new U.S. tax statute that will take effect in the 2012 tax year that experts say could make it difficult for their clients to keep their American citizenship and their foreign-based assets at the same time.

  • IRS Offers Year-End Tax-Saving Tips

    December 27, 2011

    The Internal Revenue Service is offering some tips to help your clients lower their 2011 taxes before the calendar page changes to 2012.

  • Deadline Looms for Filing Estate Tax Election for 2010 Decedents

    November 29, 2011

    Financial planners take note: the Section 1022 election to opt out of the federal estate tax and into the modified carryover basis regime for the estates of people who died in 2010 is coming up in mid-January.

  • Taxpayers Wrongly Deducted $700M for Investment Theft Losses

    November 29, 2011

    More than $697 million a year in deductions for investment theft losses may have been erroneously claimed by taxpayers, according to a new government report, resulting in a revenue loss of over $41 million to the Treasury.

  • IRS Extends Safe Harbor for Investment Theft Losses

    November 29, 2011

    The IRS has extended a safe harbor for investors who claim theft loss deductions from fraudulent investment arrangements, such as Ponzi schemes, even when the leading figure behind the fraud has died.

  • Vanguard Founder: GOP’s No-Tax Pledge 'Makes No Sense'

    November 28, 2011

    Vanguard Group founder John C. Bogle said that Republication presidential candidates’ pledge to not raise taxes as any part of a solution to the nation’s $1.2 trillion annual fiscal deficit “makes no sense.”