More than $24 billion in additional estate taxes would have to be paid from fiscal 2010 to fiscal 2019 under a budget proposal for the next fiscal year released Monday by the Obama administration.
President Obama’s <a href= http://ciedit.cr.atl.publicus.com/apps/pbcs.dll/article?AID=/20090504/FREE/905049995&NoCache=1>proposal</a> to rein in tax deferrals for U.S. corporations doing business overseas will have a negative impact on the ability of financial services firms to compete worldwide, according to the Financial Services Roundtable.
Car dealers are heavily promoting new car sales. Your client is thinking this might be the right time to buy and wants to know whether the tax incentives for buying a new car are worth it.
While charitable giving using the Internet continues to rise, the pace is slowing down due to the recession, according to a survey published yesterday by The Chronicle of Philanthropy.
Some dividends aren't dividends at all. Sometimes they are a distribution known as a return of capital, which are actually returns <i>of </i>an investment instead of returns <i>on </i>an investment.
Your client filed her federal tax return by April 15 but did not include a check for the amount due, because she did not have funds available. She has come to you for advice as to how to proceed.
What’s the future of the estate tax after 2009? This is a question that your clients have probably been asking a lot lately because the estate tax is scheduled to sunset in 2010 and then rise again like a phoenix in 2011 at higher tax rates and with a substantially lower unified exemption credit equivalent, or estate tax exemption, of $1 million.
Middle-class taxpayers likely will face a wide swath of tax increases in the years ahead, according to economists at The Brookings Institution.
Only a few months into fiscal year 2009, 44 states reported this month that they face a combined total of $62.4 billion in budget gaps, according to a report from the National Conference of State Legislatures.
Advisers need to work harder to include their clients’ heirs in estate plans because 92% of heirs change advisers once they receive an inheritance, according to one industry leader.
Your clients have probably been asking about the estate tax because it is scheduled to sunset in 2010 and then rise again in 2011 at higher rates.
Mutual fund investors paid $15.8 billion in taxes last year for distributions, according to a report released today by Lipper Inc. of New York.
President Barack Obama seized the opportunity on tax-filing day to assert that his administration is easing the tax burden of working people.
Protesters began gathering at state Capitols and in neighborhoods and town squares across the country Wednesday to kick off a series of tax-day protests designed to echo the rebellion of the Boston Tea Party.
For 2008, individual taxpayers can claim a non-refundable credit against federal income taxes of up to $1,800 per student for qualified tuition and related expenses in the first two years of the student’s post-secondary education in a degree or certificate program.
Tax day is Wednesday, and once again the Internal Revenue Service won't collect billions of dollars owed by taxpayers.
As the Obama administration scrambles to tighten tax loopholes, the strategies for dodging income taxes continue to evolve.
A wealthy accountant who is the first U.S. citizen charged in a wide-ranging tax probe of Swiss banking giant UBS AG was released from jail Wednesday on $12 million bail.
