General Motors Corp. has returned and the “cash for clunkers” bill has been enacted by Congress, providing vouchers valued from $3,500 to $4,500 when you trade in a vehicle. Let us explore some of the tax and finance decisions that enter the process.
A settlement does not appear imminent in the U.S. attempt to obtain names of thousands of suspected tax dodgers from Swiss bank UBS AG, although both sides said Wednesday they would keep trying.
Your client would like to transfer securities to family members and asks for your help.
Your client has an account with a bank located in a foreign country. The client has heard that the government is imposing onerous penalties for failure to file a FBAR report by June 30. Are they in trouble? What should they do immediately to resolve the situation?
Negotiations aimed at settling the Internal Revenue Service's tax evasion lawsuit against Swiss bank UBS AG gained traction this morning when a federal judge agreed to postpone the case until early August or possibly longer.
Through the passage of the American Recovery and Reinvestment Act, the government has created Build America Bonds.
The Internal Revenue Service could help taxpayers reduce errors by clarifying instructions and improving the layout of Form 1040, a Treasury Department report released today charged.
Retirees would be able to take a portion of their retirement savings in the form of an annuity if a bill introduced today by Rep. Earl Pomeroy, D-N.D., were passed into law.
The IRS is working on new rules that could require paid tax preparers to be licensed to improve tax compliance and reduce fraud, IRS Commissioner Doug Shulman announced today.
Your client is considering either a surrender or sale of a life insurance policy and asks about the income tax consequences.
The Department of the Treasury's recently re-leased “Green Book” describes in detail the revenue proposals contained in the president's budget for fiscal-year 2010.
Your clients have filed their 2008 federal and state tax returns. Now, you and the couple are wondering whether there are any improvement to their home they could make that would help them taxwise.
In an effort to energize the economy, stimulus checks are being mailed to millions of people. Unfortunately, thousands of the recipients are dead.
Just when market conditions appear to be stabilizing, financial advisers now have something else to keep them awake at night: Both Social Security and Medicare are on a pace to disappear even sooner than expected.
Wealth managers and tax attorneys are advising wealthy clients who may need to minimize gift and estate tax payments to consider taking advantage of a popular tax-planning tool while they still can.
Your clients are sitting on the edge of their seats, anxiously awaiting word of how the alternative minimum tax will affect them.
For decades, the U.S. retirement system was described as a three-legged stool.
This is a good time during the year to discuss the Internal Revenue Service deductibility rules for charitable contributions with clients, as they are all probably being inundated with mail and telephone solicitations for donations.
