The Tax Court refuses to invalidate a separate return filed by the taxpayer's allegedly mentally ill wife.
Individual Income Taxation
A married couple's interest in their retirement plan was not an asset for purposes of the COD insolvency test.
Key features include a large reduction in the corporate tax rate, fewer and lower tax brackets for individuals, and a repeal of the estate tax and the alternative minimum tax.
Recalculations of transfers not qualifying solely because of the Defense of Marriage Act are not restricted by the statute of limitation.
A taxpayer's IRA distributions result in additional gross income, an early withdrawal penalty, and an accuracy-related penalty.
See how to report income from Airbnb and similar “sharing economy” activities.
The IRS announced that has taken down its tool for retrieving tax return data used to complete the Free Application for Federal Student Aid.
The draft proposals to repeal the Affordable Care Act released by House Republicans would make many tax changes if enacted. Here’s a look at their impact on the tax code.
The IRS announced that it will not reject tax returns just because a taxpayer has not indicated on the return whether the taxpayer had health insurance, was exempt, or made a shared-responsibility payment under Sec. 5000A.
The start of a new year allows clients to take a fresh look at their investment strategy.
Landowner's experience qualifies his appraisal as competent even though he is not a professional.
Rules would clarify the types of arrangements that may be currently taxable even while payments are deferred.
The IRS proposed changes to various rules affecting dependents, including changing its position on when taxpayers count as “childless” for purposes of the earned income tax credit.
Hurricane and flooding prompt the relief measure.
The annual marathon of forms, schedules, and worksheets is beginning once more. As CPAs and their staffs train and ready their equipment, they might add these reminders of what’s new and notable for 2016 returns.
The expiring provisions include tax incentives for individuals and businesses, as well as several energy provisions.
The IRS issued the 2017 standard mileage rates for determining the deductible costs for operating a vehicle for business, medical, charitable or moving purposes.
Residency and signature authority are key factors.
Clients renting out their properties need to know a few key rules.
The IRS finalized a proposed rule eliminating the three-year testing period for determining when debt was discharged for cancellation of debt information reporting purposes.