Tax

Think you’ve locked in your high exemption from gift and estate taxes? The agency suggests a rethink.

The service decided to destroy the documents in March 2021 because of its inability to process its backlog of paper tax returns, according to a new report.

The Internal Revenue Code encourages individuals to save for retirement by offering taxpayers the ability to invest for their ‘golden years’ through a variety of tax-favored retirement accounts such as IRAs, Roth IRAs and 401(k) plans.

Grantor-retained annuity trusts thrive in a volatile stock market. Here are the lucrative tax reasons.

Advisors tend to avoid clients' tax issues when they involve the IRS. It's a missed opportunity to add value.

While the chances of scrutiny are relatively low, these issues can put a wealthy taxpayer on the agency’s radar.

With the White House’s proposed Build Back Better legislation and its impact on taxes in limbo, advisors have time to implement key tax planning techniques.

There are steps you can take year-round, to help keep your clients’ personal data safe.

Even if they dislike digital assets, wealth planners have a fiduciary duty to understand their confusing and murky tax treatment.

April and Column Tax are among the startups capitalizing on the idea that taxes are part of a person’s financial life and banks are most suited to help with tax preparation and filing.

The highest consumer prices in 40 years have prompted advisors to seek out safe harbors for their clients.

A recent study has found that 96% had still not filed their taxes as of the end of March, with confusion over how to do so being the primary reason.

Biden’s 2023 budget could be DOA, but advisors still have to shepherd clients tired of yet another round of talk about tax increases.

Jamie Dimon just received almost $56 million of JPMorgan Chase’s stock, before taxes, from an incentive program the bank valued at less than half that much just three years ago.

The bill would raise the required age to begin withdrawing money from retirement accounts to 75 from 72.

Ending tax-free wealth transfers through the longstanding step-up in basis loophole is among the proposals.

Under Biden’s plan, the tax would apply to households worth more than $100 million who do not already pay 20% tax on their “full income."

The $2.6 billion Miami firm is the largest independent advisor yet to take advantage of the U.S. territory’s incentives.

Affluent investors who have maxed out their retirement plan contributions hold target date funds in taxable brokerage accounts.

The bull market has made many wealthy clients overweight in single stocks. Here’s what they can do to diversify their retirement nest eggs and cut taxes.