Michael Cohn

Nearly half of Americans are saving no more than 5% of their incomes, while 18% are saving nothing at all, according to a new report.

President Obama's 2016 budget tax proposals would raise taxes on the wealthy and multinational corporations stashing profits offshore, while promising middle-class tax cuts.

The American Institute of CPAs has written to some of the top tax lawmakers in Congress asking them to grant relief to taxpayers in appropriate situations when they miss a statutory deadline or make an error in choosing an election.

A hearing last week dealt with one case that could have far-reaching implications -- challenging Maryland's authority to tax all income of a resident whose business pays taxes to other states -- while another case coming up on the Affordable Care Act promises to have even bigger ramifications.

The scheduled depletion date for Social Security’s Disability Insurance Trust Fund is only two years away, in late 2016, according to a new government report.

The IRS said it would regard 2014 and 2015 as a transition period for purposes of IRS enforcement and administration of FATCA for banks that have made a good-faith effort to comply.

The Internal Revenue Service has published 2010 statistics on foreign trusts indicating an increasing interest in foreign investment by U.S. taxpayers, and the impact of changes made in 1996 to information reporting requirements.

A group representing charitable organizations said it is concerned about a proposed cap to the charitable tax deduction included in President Obama's budget plan.

The Internal Revenue Service said that budget sequestration would require reductions in refundable credits for certain tax-exempt bonds and the refundable portion of the Small Business Health Care Tax Credit for some small tax-exempt employers.

Accountants who want to offer wealth management services for clients can benefit from a knowledgeable partner, and that’s what Paul Saganey, president of Integrated Financial Partners, hopes to provide.

The Internal Revenue Service released new income tax withholding tables for 2013 late Monday to reflect the expiration of the 2001 and 2003 Bush tax cuts and the more recent payroll tax cuts of 2011 and 2012, but noted that the guidance would be modified if Congress acts.

Congress is scheduled to return Thursday, with one of its top priorities a deal to avert the December 31 “fiscal cliff” deadline of looming tax increases and automatic spending cuts, but it will need to work quickly or reach some type of interim agreement.

Small businesses may be facing a variety of regulatory changes after January 1.

The Securities and Exchange Commission has issued an Investor Bulletin to help purchasers of municipal bonds better assess the bonds’ credit risks.

Speaker of the House John Boehner said Tuesday that House Republicans would introduce a bill to raise tax rates for millionaires as a “Plan B” in case his negotiations with President Obama on averting the fiscal cliff fail to produce an agreement.

States are creating fiscal risks for themselves by neglecting to control the costs of tax incentives for economic development, according to a new report from the Pew Center on the States.

House Minority Leader Nancy Pelosi, D-Calif., said she would try to use a procedure known as a discharge petition to bring a Senate-passed bill for extending the middle-class tax cuts to the floor of the House.

CFOs in the U.S. remain uncertain about the future of the economy and their own businesses, according to a new survey.

President Obama met with congressional leaders at the White House on Friday to negotiate over the expiration of the Bush tax cuts and the looming problem of the so-called “fiscal cliff,” with the leaders agreeing that the meeting had been constructive.

It may be some time before Congress and the Obama administration decide what to do about the tax rates for next year, so it’s a good idea to plan for various alternative scenarios just in case.