Income Tax
Bipartisan House Efforts on Child Tax Credit Start to Take Shape
The Problem Solvers Caucus, a group of GOP and Democratic lawmakers, plans to work on issues associated with the credit.
Tax Issues When Selling a House After a Divorce
What are the tax consequences regarding a home sale if you and your spouse split up or divorce?
IRS Enforcement Sets Sights on Millionaires
The IRS said last week it collected $38 million from tax-evading millionaires. But the agency isn’t done making the wealthy pay up.
Estate Planning Tips: Avoid the Mistakes of Aretha and Prince
Prince died in 2016 without a will, leaving his would-be heirs to battle for six years before reaching a settlement in August 2022 on how to divide his $156 million estate. Charities he supported during his life lost out.
Taxpayers Warned About Frivolous Tax Claims
A frivolous claim is one that is used to support an unreasonable entry on your returns or the failure to file a return. Numerous such claims have been shot down by the IRS, as well as the courts, in recent years.
IRS and Security Partners Announce Special Summer Series
This marks the eighth year that the Security Summit partners have worked to raise awareness about these issues through the "Protect Your Clients; Protect Yourself" campaign.
Tax Advantaged Strategies to Help Clients Plan for Long-Term Care
The Internal Revenue Code includes several tax strategies that may help your clients better prepare for the potential costs of long-term care—here are three to consider.
Hosting an Exchange Student Can Earn a Tax Break
Qualified deductible expenses include the cost of books, tuition, food, clothing, transportation, medical and dental care, entertainment and other amounts actually spent for the student's well being.