By following some very specific rules set forth by the Internal Revenue Service, your client can choose to participate in a Section 1031 exchange and defer payments of federal income taxes on the gains.
An Internal Revenue Service notice, which became effective Sept, 22, provides guidance on the use of the Exchange Stabilization Fund.
The House of Representatives approved legislation yesterday that would relieve about 25 million middle-class taxpayers from paying the alternative minimum tax this year.
Your clients, who are ordinary investors, still hold substantial positions in Lehman Brothers and Fannie Mae stock in their portfolio and are wondering what they should do to claim a tax loss for the year.
An employer provided a worker with a lump-sum payment of approximately $35,000 during the first year of his disability, which he declared as income when he completed his tax return.
Handful of firms peddled equity swaps, stock loans to clients; 'IRS pussyfooted on this.'
Generally, under Internal Revenue Code Section 61(a)(12), income from discharge of debt is includible in gross income. This
The TCJA eliminated the tax deductibility of most portfolio fees. So, when are investment management fees tax deductible? Read on and find out
Selling covered calls is a common strategy employed by many investors to en-hance the return of their equity position.
A married couple has cut back on their charitable donations and are instead volunteering their time and services.
Under IRC Section 108, certain exceptions allow a taxpayer to exclude COD income from gross income.
Martin Liechti has returned to Switzerland more than three months after he was detained material-witness warrant.
A GAO study found that about 66% of U.S. corporations didn't pay any federal income tax.
A couple should consider setting up a 529 college savings plan to minimize the effect of spiraling tuition costs.
Consider a sale of assets to an intentionally defective grantor trust for the benefit of multiple younger generations.
If your client want to raid their retirement money for a "hardship distribution," you need to know the rules.
Sen. Carl Levin today called for legislation that would make it easier to tax U.S. citizens who transfer assets to shelters.
The firm is being investigated as to whether its clients used offshore accounts to hide assets and avoid paying taxes.
Legislation that would save about 25 million taxpayers from paying the AMT this year was approved today by a vote of 233-189 in the House.
Taxes are going up after the expiration of the Bush tax cuts in 2010, even if John McCain, R-Ariz., is elected president in November.
