IRS

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.

The agency will send several dozens agents to make at least 800 face-to-face visits in February and March of this year.

Relief comes as a result of the short notice firms were originally given to comply with the Secure Act, the agency says.

Retirement savers stand to gain more by investing their money instead of taking an interest-free reimbursement.

Along with other decisions, dating the amount of money they need to withdraw would help them in retirement planning and spending.

Failing to pay taxes on side-gig earnings and keeping faulty records of business-related expenses must avoided to prevent an excessive tax burden.

This rise of the so-called grey divorce has created a number of uncommon and complex issues for retirement accounts.

The agency recently estimated a gap of $381 billion in unpaid tax from 2011-‘13, which equates to roughly 14.2% never being submitted.

The Secure Act was designed to expand retirement savers’ options but it has subsequently all-but-eliminated the stretch IRA for beneficiaries. It's on advisors to make clients aware of the major change.

Knowledgeably navigating 401(k) and IRA movements can have a massive impact on tax burdens — and the client relationship.

"Keep records and watch the statute of limitations. The usual IRS statute of limitations is three years after you file your tax return," an expert writes.

Adjusting a federal income tax return depends on personal tax circumstances, “such as the materiality of the error,” an expert says.

Clients who have yet to make withholding adjustments to cover their tax liability still have time to avoid the extra burden.

Clients who own a business may be eligible for a 20% deduction as a result of tax overhaul. For those who don’t qualify, there are other savvy strategies

The funds may be gaining traction among older investors with significant assets, but rarely live up to their billing.

The 2017 Republican tax law approximately doubled the estate and gift tax exemption.