Tax

A congressional appropriations committee wants to give the Internal Revenue Service $1 billion more in funding to improve taxpayer service and technology and make the overall tax system fairer.

The SECURE Act is unclear about whether some inherited retirement accounts have to be emptied out in 10 years or five.

Workers in the U.S. who are increasingly job-hopping these days risk making one of the biggest financial mistakes out there.

When the tax agency said annual withdrawals would be required before an account is drained by year 10, it created a firestorm. Here's what's happening now.

“Investomania” aims to tamp down the game-like nature of Robinhood-style investing.

The plunging value of many cryptocurrencies and nonfungible tokens has led to worries about the tax implications faced by crypto investors and companies.

The service is taking steps to increase its audit rates of higher-income taxpayers after coming under sharp criticism in Congress over its lagging audit numbers.

Investors in digital assets have been pummeled recently by the longest losing streak since 2011, but if they act promptly, they can cut their tax bills.

The new law requires digital apps and online marketplaces to send a tax form to both the IRS and a recipient who receives $600 or more a year in online payments.

From high-quality corporate paper to munis, there are surprising deals to be had.

From inflation concerns to an annuities bill circulating in Congress, there is a lot for clients to consider as they plan their exits from the workforce.

Proposed regulations provide the best window into the IRS’s current thinking on a variety of issues to date.

A crucial loss of support for a bill co-sponsored by 200 House Democrats reflects the worsening political calculus for fixing the program’s solvency.

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.