Situation: One of your clients wants to make a retirement plan contribution before filing his tax return. He has salary from his job and some self-employment income from a side business.
Legislation to tax carried-interest compensation at ordinary income tax rates instead of lower capital gains rates was reintroduced today by Rep. Sander Levin, D-Mich.
As tax day approaches, the Internal Revenue Service is not consistently using the same standards to fine late-filing taxpayers and losing millions of dollars in revenue, according to a new report.
A Boca Raton man appeared in federal court after prosecutors say he hid millions of dollars in assets from U.S. tax collectors in the Swiss bank UBS.
Your client was a victim of a Ponzi scheme and wants to know whether he can deduct a loss on his tax return for the fraudulent behavior of the investment adviser.
If you can’t file your 2008 federal income tax return with the Internal Revenue Service by April 15 and have to file for an Oct. 15 extension, you can still save on interest and penalties.
In his White House press conference last night, President Obama defended his proposal to reduce the tax deduction for philanthropic gifts, stating that the measure would not deter donors from giving.
While the IRS released new rules this week to help victims of Bernard Madoff’s Ponzi scheme recoup some of their losses with a tax break, private foundations will not be able to benefit.
Thirteen recipients of bailout funds from the Troubled Asset Relief Program owe more than $220 million in unpaid federal taxes.
<b>Situation:</b> Under the new tax act, a hefty cash refund is available to so-called “first-time” home buyers.
The Internal Revenue Service is allowing tax relief and refunds for some investors who paid taxes on earnings from their investments with Bernard Madoff.
The Swiss government says it will cooperate on cases of international tax evasion, breaking with a long-standing tradition.
A proposal in President Obama’s budget to lower the tax deduction amounts for wealthy donors has charities concerned that it may reduce giving.
UBS AG official on Wednesday will face questions from a Senate panel for the first time since the bank acknowledged helping tens of thousands of American clients hide assets from the U.S. government.
The offshore tax-haven loophole could be getting a lot smaller if Sen. Carl Levin, D-Mich., has his way.
You have received a barrage of telephone calls from your clients asking how the new stimulus package might affect them.
President Obama’s proposal to raise taxes on affluent households, detailed in his budget plan today, could be a boon for tax-managed mutual funds.
All carried-interest distributions from private-equity funds and hedge funds would be taxed as ordinary income instead of capital gains under Obama's proposed budget.
A client wants to pay off his mortgage with a retirement account distribution and is wondering about the short- and long-term financial ramifications.
