Tax strategies

The agency has cleared out much of its mammoth backlog of unprocessed returns, but scores of individuals and small business owners remain in limbo.

Donor-advised funds increased their donations to charities last year in response to the COVID-19 pandemic, hitting the biggest levels in over a decade.

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

Cryptocurrency investors would have little time to plan against possible tax increases under legislation advancing in Congress.

That Rothko, Basquiat or Banksy hanging in the front hall may be a great way to get a tax break.

As Congress wrangles, advisors are struggling to figure out how to help clients.

There’s no telling where the vast fortunes hide on tree-softened Phillips Avenue here in Sioux Falls.

Good luck getting in to see an estate planner if you don’t already have one. Cross your fingers if you do.

Policies held in grantor trusts would be subject to estate tax under Democrats’ plan, the latest blow to wealth management for the affluent.

Qualified small business stock may lose a lot of its value if congressional proposals go through.

Two of the most generous tax loopholes are on the chopping block, the latest surprise in emerging tax increases.

The bipartisan infrastructure bill includes requirements for brokers to report their customers’ cryptocurrency gains to the Internal Revenue Service, but exactly what constitutes a broker is stirring controversy.

Even professionals such as accountants and attorneys who may serve as trustees are unaware of the numerous risks that life insurance policies carry.

Using private placement life insurance to avoid taxes is getting more popular, some financial advisors say.

Will the giant tax incentive thrive as a tool to defer, minimize and eliminate capital gains tax?

ABLE accounts make it feasible for the disabled individual to express what they would like to do — and what they would like for themselves.

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

A Treasury Department spokesperson gave an answer that provides clarity for advisors with affluent clients.

The $1 million threshold at which the 23.8% capital gains rate would nearly double has sparked questions — and a strategy for some well-paid professionals.

Experts and leading practitioners are looking at ways to mitigate the possible affect of the legislation from a tax perspective.