IRS

Even as they still have to deal with tax season, the service is tasked with handling much of the stimulus packages.

These direct payments are intended to provide direct assistance to American taxpayers who have lost wages, jobs or opportunities because of COVID-19. But there is some fine print.

From Roth conversions to QHFDs: The coronavirus pandemic is forcing difficult questions, and clients rightfully are looking for answers that advisors are uniquely suited to provide.

The Internal Revenue Service is postponing the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15 because of the novel coronavirus pandemic.

It follows an earlier decision to delay the payment deadline, but not the filing deadline, in response to the coronavirus pandemic.

Some clients can get an extension on paying taxes of up to $1 million and corporations can defer tax payments of up to $10 million.

While the Trump administration has called for a delay to the April 15 deadline, they have yet to issue formal guidance on when paperwork is due.

The richer they are, the more options clients have to insulate themselves from the coronavirus and its effects.

A watchful planner might have saved a matriarch’s IRA from being allegedly pillaged by her son.

Two years after the tax law eliminated write-offs for investment costs and advice, lawyers say they have found a loophole hidden in years-old IRS case law.