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.
The Energy and Tax Extenders Act may be taken up next week by the House of Representatives.
A former banker at UBS has been charged with helping clients avoid paying taxes by opening secret bank accounts.
Most advisers are clueless about important tax rules that impact individual retirement accounts, CPA Ed Slott said.
The mutual fund industry's push for raising taxes on exchange-traded notes may come back to hurt the industry when it asks Congress to defer taxes on mutual funds, the ranking minority member of a House Ways and Means subcommittee said.
Pay tax on such financial products, even though no payoff from such investments is assured, would unfairly limit trade of the financial products, according to the group.
The Securities Industry and Financial Markets Association has endorsed President George W. Bush 2009 budget proposal.
The Senate is planning to vote on a $160 billion version of the stimulus bill tomorrow.
Speaking at the annual World Economic Forum in Davos, Bob Greifeld urged Congress to speedily pass a stimulus package.
The tentative deal involving $150 billion worth of tax rebates would provide $300 to $1,200 per household.
Sales of new one-family homes fell to an annual rate of 647,000, according to the U.S. Census Bureau.
Up to 13.5 million taxpayers won’t be able to file their AMT-related returns until Feb. 11, said the IRS.
The tax package also includes a seven-year renewal of a terrorism-insurance program.
