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Just 1,275 families paid $9.3 billion in estate tax in 2020, down from $20 billion from nearly 5,500 families in 2018.

The service’s recent move to set new requirements for claiming refunds on research tax credits is provoking an uproar among tax professionals.

The service released its annual inflation adjustments Wednesday, including the standard deduction amount for individual and married taxpayers.

The service lifted the limit from $19,500 as part of its annual inflation adjustments.

Under the 2017 Tax Cuts and Jobs Act, R&E expenses paid or incurred after 2021 must be capitalized and amortized over five years (15 years if research is performed overseas).

The Internal Revenue Service’s Office of Chief Counsel is spelling out new requirements for information from companies submitting claims for research credit tax refunds to prove they’re valid.

The return will take place over the next six months.

The XY Planning Network of fee-only advisors and investment advisor Michael Kitces say consumers are being deceived when brokers use labels like “wealth manager” and “financial advisor.”

The Salt Lake City broker-dealer, under scrutiny by regulators over its exorbitant fees and seizure of client money, lost a court battle seeking to force regulator FINRA to deal with it in person.

Some funds touting their environmental and socially responsible investments may be exaggerating.

Five years into scandals that have already cost Wells Fargo more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls.

Carrie Tolstedt invoked her right to remain silent about allegations she misled bank customers.

The IRS has blessed at least one approach to getting around the TCJA limitation — the entity-level tax.

The number of accounts with balances of at least $1 million grew 84% year over year, while the number of seven-figure IRAs jumped more than 64%.

Wall Street’s self-regulator says recent data show that only mid-sized and smaller firms would have fit its new “red flag” criteria.

Increasingly, hedge funds are eager to buy packages of art-backed loans.

A longtime Merrill Lynch veteran, Michelle Avan advocated for Black women and other under-represented talent.

Steven Black was a board member of BNY Mellon when Wells CEO Charlie Scharf led the trust bank. He will become Wells Fargo’s fifth chairman in five years.

The exchange will direct its listed companies to pursue board diversity, including at least one member who is female and at least one who is an underrepresented minority or LGBTQ.

Across an industry that was already split on returning to work, policies are diverging more than ever.