IRS

Clients may consider rebalancing their portfolio more often to address asset allocation shifts as a result of the downturn.

Recipients of Social Security benefits, as well as railroad retirement and veterans benefits recipients, will need to act fast.

A rule designed to prevent simple deduction abuses brings significant complexity to planning.

The IRS now says some unwanted RMDs can be undone, eliminating the tax bill

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.

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.