Taxes
Congress is Eyeing Several Tax Changes for 2024
Lawmakers will negotiate a raft of potential tax changes when Congress returns in January. Here's a look at what could be included.
Should You Elect to Forgo Preferential Tax Treatment on Capital Gains and Dividends?
Depending on your situation, you might elect to forgo preferential tax treatment on certain long-term capital gains and qualified dividends in favor of deducting investment interest expenses.
Treasury Proposes New Regs for Advanced Manufacturing Production Credit
The guidance provides rules for the production of eligible components and sale to unrelated persons, as well as special rules that apply to sales between related persons.
How to Get the Most Tax Benefits from a Roth IRA
Under the “ordering rules” established under IRS regulations, most of the payout of a nonqualified Roth distribution may be tax-free anyway—maybe even all of it.
Gift Tax Exclusion Increases for 2024: How to Get the Most Benefit
The annual gift tax exclusion allows you to gift up to a specified amount to each recipient each year without any gift tax liability.
IRS Launches Anti-Fraud Program to Help Businesses that Filed ‘Questionable’ ERC Claims
Businesses interested in taking advantage of the voluntary disclosure program have until March 22, 2024, to apply.
IRS Extends Tax Filing Deadlines in Some Areas of Tennessee
The IRS has announced several Tennessee tax deadline extensions in four counties after severe storms and tornadoes.
Reminder: Deadline for Retirement RMDs is Dec. 31
For 2023, the age at which account owners must start taking required minimum distributions goes up from age 72 to age 73.