Tax

Retirement plan sponsors and their financial advisors receive guidance from the IRS on how the Secure 2.0 Act opened the door for "de minimis financial incentives."

The Internal Revenue Service provided initial guidance to aid employers in establishing pension-linked emergency savings accounts, an outgrowth of the wide-ranging SECURE 2.0 Act of 2022.

In a change that may affect financial advisors and tax professionals' clients, the agency reversed course on a position it took seven years earlier.

The service reported on its increased enforcement efforts on Friday, including collecting over half a billion dollars from millionaires who didn't pay their taxes.

The seven states that impose the least on residents have an individual income tax burden of 0.00%.

From estate, gift and trust work to Social Security maximization and charitable planning, there are a host of offerings firms can work on once the tax return is finished.

The state that imposes the most on residents has an individual income tax burden of 4.72%.

Asking the right questions early on can help a planner identify gaps in an emerging estate plan and uncover opportunities for clients down the road.

Practitioners have always shared advice as part of tax prep, but the future of the field is in proactive, intentional tax advisory services.

Financial advisors, tax professionals and their customers can recoup 30% of the cost through credits for qualified upgrades to their residences.

Donald Trump plans to make permanent the 2017 individual tax cuts that he enacted as president while keeping corporate tax levels unchanged in an appeal to working and middle class voters should he retake the White House.

Businesses eager to see Congress revive expired research and investment tax breaks have reason for optimism that a deal could come together as soon as this month.

Here's a breakdown of the most important proposals and debates circulating in policy circles ahead of this year's election and a big Supreme Court decision.

Fifteen states are reducing either individual or corporate income taxes this year, with some states trimming both individual and corporate taxes, among 34 states starting the year with significant tax changes.

The arguments in Moore v. U.S. carry major potential implications, but these 14 excerpts suggest SCOTUS will deliver a less sweeping decision next year.

Here's a list of Financial Planning's most important stories in the past year involving the vexing array of complexities with paying Uncle Sam.

The Internal Revenue Service has updated its frequently asked questions to offer more guidance on what kinds of components can be used in electric vehicles to qualify for tax credits.

Technology helps financial advisors unlock much more value by being able to switch up clients' buckets of investments at any time throughout the year.

More and more fraudsters are impersonating the IRS, so taxpayers need to know how to tell the difference, and what to do if someone tries to scam them.

It's a complicated choice, but tax alpha and customization shouldn't play that big of a role. On the other hand, the ability to have a solid partnership should.