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.
A member of a blue-ribbon panel appointed by California Gov. Arnold Schwarzenegger to make recommendations on improving the state’s tax code said the panel’s members are philosophically opposed to taxing professional fees or any other “non-tangible” services but warned that dire economic conditions may make such opposition moot.
Cash is king” seems to be the catchphrase in these recessionary times. From a tax standpoint, we want to maximize the receipt of cash for our clients through tax refunds and explore the possibilities of deferring tax payments to preserve cash.
A New York accounting firm has compiled a short list of candidates and plans to let its clients vote on the ultimate Tax Turkey.
Your clients, a married couple, realize that this is a home-buyer’s market and are interested in purchasing a home. The couple has come to you about tax savings opportunities related to a purchase. They are newlyweds and both previously lived in an apartment.
President Obama is formulating and finalizing his tax proposals as part of an overall economic recovery stimulus package and your clients have been asking how the new plan will affect them.
New tax laws went into effect Jan. 1, and your clients are wondering how the laws will affect their tax obligations for 2009.
For many employers, especially self-insured employers, administering a cap on the tax exclusion for employer-based health coverage would be difficult, according to a detailed study.
Just when we thought we had heard all the bad financial news there was, a new major money scandal is being played out. Everyone wants to know what happened to the Bernie Madoff money.
