Feeling the Tax Sting

Mutual fund investors were hit hard in 2006, paying the IRS more than $23.8 billion on their reinvested distributions. Equity fund shareholders paid more than 60% ($14.4 billion) of the total tax burden on their capital gains.

Investment companies distributed $418.5 billion last year, surpassing the previous record high of $376.6 billion set in 2000. Short- and long-term distributions from equity funds increased 79% and 86%, respectively, from 2005 levels. Over the last 10 years, investors paid on average 17% to 44% of their load-adjusted returns in taxes.

Source: Lipper’s Taxes in the Mutual Fund Industry—2007, www.lipperweb.com.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.