Tax planning

With estate-tax exemptions higher than they used to be, other issues (like income tax) may now be more important for some clients. Here are several planning issues that deserve a rethink.

How advisors can use 1099s to help address investment reporting issues that clients may have overlooked.

The IRS issued a consumer alert warning taxpayers to beware of tax preparers who tell clients to give them their health insurance paymen

The Senate Finance Committee heard testimony about the increasing prevalence of tax scams and identity theft, with senior citizens finding themselves especially vulnerable to callers impersonating IRS employees.

Tax season isn't supposed to be fun. But if your civic duty feels extra unpleasant this year, you're not imagining things. Here are four reasons this tax season really is the worst.

A majority of Americans continue to be concerned about the privacy and safety of their personal and financial data when filing their tax returns online.

The IRS is continuing its enforcement push against refund fraud and identity theft, and today announced the top ten identity theft prosecutions for fiscal year 2014.

The Internal Revenue Service’s Large Business & International division has opened a gateway that financial institutions and the tax authorities abroad can use to send information on financial accounts held by U.S. taxpayers in accordance with the Foreign Account Tax Compliance Act.

The Internal Revenue Service is auditing the taxes of fewer businesses as a result of budget cuts in recent years.

The Internal Revenue Service reportedly sent a tax lien for $6,410,449.20 to Academy Award-winning actor Robert De Niro for his 2013 taxes, but it has now been paid after the notice went to the wrong address.

Investing with borrowed money is just one way clients could harm their retirement portfolios; Plus, expats are advised to invest in a low-cost, taxable account.

The IRS has issued guidance on the potential approaches it may take in the future on proposed regulations for the excise tax on high-cost employer-sponsored health coverage in the Affordable Care Act.

Following a favorable IRS ruling, the popularity of these retirement plans has been on the rise. Here's what advisors need to understand about offering them to clients.

Converting a traditional Roth IRA for the benefit of heirs doesn't always work as planned. Help your clients run the numbers.

A group of plaintiffs are suing the Treasury Department, the Social Security Administration, and the District of Columbia, claiming the federal government is continuing to hold onto their tax refunds to pay for supposed overpayments of Social Security benefits decades ago.

The Minnesota Society of Certified Public Accountants recently surveyed its CPA members in public accounting on the most outrageous tax deductions clients tried to take on their tax returns. Their responses included everything from pets and weddings to cars impounded by the police.

The IRS warned tax preparers and other tax professionals to be on guard against bogus emails seeking updated personal or professional information.

The fiscal 2016 budget includes proposals to limit the value of itemized tax deductions for IRAs and 401(k)s and other expenses to 28%.

This tax season is particularly bitter for gays and lesbians who live in states that still don't recognize same-sex marriage.

Clients who have the option of receiving a sizable lump-sum payment of their pension or life-long payments need to consider the advantages each has in certain situations.