Last Build Date: Sat, 03 Dec 2016 00:32:14 ESTCopyright: copyright © 2016 Dow Jones & Company, Inc.
Fri, 02 Dec 2016 18:16:07 ESTDonald Trump’s proposed tax plan sends nearly half the benefits to the top 1%, households earning more than about $700,000 annually, while reducing their relative contribution, according to the nonpartisan Tax Policy Center in Washington.
Mon, 28 Nov 2016 12:17:07 ESTHigh-earning American taxpayers are likely to benefit from a significant rate drop for capital gains in 2017. That’s because major changes are likely for taxes on individuals’ investment income next year, when Republicans will control both the White House and Congress.
Mon, 21 Nov 2016 22:56:41 ESTAmerican taxpayers should take advantage of several big tax deductions, such as charitable giving, as they are likely to be far less valuable or even disappear next year.
Fri, 11 Nov 2016 22:36:16 ESTThe Republican sweep means major tax changes are likely next year. A look at three GOP proposals shows that while most people’s taxes would go down, especially for the highest earners, some taxes may go up.
Fri, 28 Oct 2016 12:19:26 EDTLow earners often get more from Social Security benefits than they pay in, while high earners—who face a hike in payroll taxes next year—get less. One-income couples also fare better.
Fri, 21 Oct 2016 10:26:25 EDTLower taxes are a plus for passive investment management over active. The tax efficiency of passive funds is due partly to the fact that they trade less than actively managed funds.
Fri, 14 Oct 2016 15:44:11 EDTIt’s not just Donald Trump. Many owners of rental real estate are able to use losses to avoid paying taxes.
Thu, 29 Sep 2016 13:33:48 EDTA new scam has started recently involving fake tax bills tied to the Affordable Care Act. In one sure sign the notices are fake, many are arriving by email—and the IRS doesn’t initiate taxpayer contact by email.
Wed, 07 Sep 2016 16:28:43 EDTAdvertisements this summer have claimed that people can invest their tax-free retirement accounts in gold and store it at home. But the IRS has issued a stern warning against the move.
Fri, 19 Aug 2016 17:31:43 EDTNew rules are coming that will likely limit techniques used by the wealthy to lower their estate and gift taxes.
Sat, 13 Aug 2016 08:42:25 EDTA specialized court’s decision should embolden more students enrolled in M.B.A. programs across the country to deduct their tuition—especially if they are getting an executive M.B.A.
Fri, 24 Jun 2016 16:01:02 EDTA little more than two years after the Internal Revenue Service issued bare-bones guidance on bitcoin and other digital currencies, the agency still hasn’t addressed many important tax matters affecting them.
Sun, 26 Apr 2015 08:50:01 EDTAs access to mainland-listed ‘A shares’ expands, there are questions about tax on gains from 2009 through last year.
Mon, 04 Mar 2013 11:39:27 ESTLast year, did you sell stocks, mutual funds or exchange-traded funds held in a taxable account? Better read this.
Sun, 06 Jan 2013 21:20:49 ESTThe Congressional deal averted bigger hikes but could still spell pain for a broad swath of taxpayers.
Fri, 02 Dec 2011 19:38:41 ESTAfter December's last-minute Congressional theatrics, many taxpayers are confused about all the tax changes. Here's what you need to know.
Sat, 13 Mar 2010 15:40:45 ESTThere are five separate tax filing statuses, and choosing the wrong one can cost you a bundle. Here are some pointers.
Thu, 11 Sep 2008 17:46:00 EDTWhile many taxpayers still are giving away used cars, it's generally no longer as attractive for tax purposes as it once was.
Fri, 12 Sep 2008 10:49:00 EDTEven if you make hundreds of stock-market trades a year, that doesn't automatically make you a trader -- at least in the eyes of tax collectors. And that means you wouldn't be eligible for certain breaks that traders can take.
Thu, 28 Aug 2008 09:33:00 EDTAbout 47,000 people had a net worth of $20 million or more in 2004, the latest available year, according to new IRS estimates. That's up 62% from 29,000 in 1998. Plus, more findings from IRS data on the nation's upper crust.
Wed, 20 Aug 2008 15:27:00 EDTWhile Americans are focusing on the presidential race, voters in Massachusetts and other states will decide the fate of dozens of state and local tax and spending issues. Here are a few of the most high-profile tax battles.
Tue, 12 Aug 2008 23:44:00 EDTIf you're confused by the alternative minimum tax, you have lots of company according to a new report. Congress is expected to approve a measure this year designed to prevent the number of AMT victims from soaring.
Wed, 06 Aug 2008 19:29:00 EDTPart of the housing-stimulus package recently signed into law could reduce the appeal of a tax-saving strategy used by wealthy home-hoppers. Many owners might not be eligible to claim the full exclusion on a vacation or rental home they convert to a primary residence.
Thu, 31 Jul 2008 23:40:00 EDTIf you often sell items on online auction sites, you may find yourself on the IRS's radar due to recent tax legislation. Here are tips for eBay entrepreneurs on how to protect themselves and their profits, while complying with tax laws.
Tue, 22 Jul 2008 23:26:00 EDTFor taxpayers in debt with the IRS, turning to a private company for help may backfire: The nation's largest tax-resolution company recently settled with 18 states over allegations that it misled consumers and failed to produce results.
Wed, 16 Jul 2008 20:09:00 EDTA recent criminal case provides an object lesson in how not to give to charity. Advice from lawyers and accountants on how to avoid trouble.
Tue, 08 Jul 2008 23:50:00 EDTMany taxpayers facing questions from the IRS in recent months have suffered needless aggravation because agency workers frequently fail to follow procedure.
Wed, 02 Jul 2008 12:09:00 EDTCongress and the next president are expected to reach a compromise on future estate tax rules. Here's a look at what tax plans could lie ahead and how families would be affected by them.
Wed, 25 Jun 2008 16:12:00 EDTThe IRS has been flooded with questions about the economic-stimulus payments. Here's an update on the stimulus checks, where the glitches are and where to get help.
Thu, 19 Jun 2008 15:01:00 EDTAs the presidential campaign heats up, investment and tax advisers are warning upper-income clients to prepare for higher capital-gains taxes no matter who gets elected. Here is a look at Obama and McCain's still-evolving tax plans.
Wed, 11 Jun 2008 16:18:00 EDTSoaring property values in recent years swelled the coffers of counties and municipalities, raising calls for property-tax cuts. Now, even as foreclosures and dwindling home sales shrink local tax bases, a number of state governments are slashing or capping property-tax rates.
Tue, 03 Jun 2008 22:52:00 EDTMany investors battling the IRS in high-stakes tax-shelter cases may take some hope from the government's defeat in a recent court case. But IRS lawyers view the decision as merely a temporary setback on the road to annihilating the badly battered shelter business.
Fri, 30 May 2008 23:35:00 EDTHundreds of Americans formally renounce their U.S. citizenship every year, many in order to protect their wealth from income, estate and gift taxes. But last week, Congress may have made life less rewarding for tax exiles.
Tue, 20 May 2008 22:39:00 EDTAs government officials intensify a multinational crackdown on offshore bank accounts, many wealthy Americans who use them to illegally shield income are facing a difficult decision: whether to turn themselves in -- and if so, how.
Tue, 13 May 2008 20:46:00 EDTLook for Congress to revive several popular tax breaks and to shield people from being caught in the tangled web of the AMT. But it's unclear what some of the key details will be. As a result, many people may face difficulties with making tax-planning decisions in coming months.
Tue, 06 May 2008 21:28:00 EDTNeed help cutting through IRS red tape? In many cases, one of the best places to go is the Taxpayer Advocate Service. Its mission: to help taxpayers resolve problems and to identify problems affecting groups of taxpayers and propose changes.
Tue, 29 Apr 2008 23:40:00 EDTThe federal government this week began delivering the first wave of economic-stimulus payments. Here is a refresher course on the basics, as well as answers from the IRS and Treasury to a few of the questions that have poured in.
Tue, 19 Feb 2008 23:23:00 ESTA new tax deduction this year will help some people who purchased and paid for mortgage insurance during 2007. Here's an overview of this and other major changes to tax forms this year and how they might affect your pocketbook.
Tue, 12 Feb 2008 21:43:00 ESTMillions of taxpayers are asking what the economic-stimulus package has to offer them. Here are answers to some of the most frequently asked questions, based on interviews with government officials, accountants and tax lawyers.
Tue, 05 Feb 2008 22:32:00 ESTLawmakers are likely to give the IRS money and resources to combat tax cheating, seeking to squeeze money out of those who owe taxes instead of raising taxes.
Tue, 29 Jan 2008 23:14:00 ESTThe IRS plans to increase the number of audits of high-income taxpayers as the agency faces heavy pressure from Congress to raise additional revenue and shrink the nation's $290 billion "tax gap."
Tue, 22 Jan 2008 22:52:00 ESTThe Supreme Court handed down a painful decision last week for many people who rely on trusts for income, ruling that investment advisory fees paid by a trust can't be deducted in full for income-tax purposes.
Tue, 15 Jan 2008 22:56:00 ESTFears of getting audited when claiming the home-office deduction are unwarranted, advisers say.
Tue, 06 Nov 2007 22:29:00 ESTWith stock markets up strongly -- gifts of stock, mutual-fund shares and other investments have jumped, several charity officials say. But in donating securities, as with most tax strategies, there can be pitfalls.
Tue, 30 Oct 2007 22:25:00 EDTTaxpayers are increasingly factoring in the alternative minimum tax when devising their year-end tax-planning strategies.
Tue, 23 Oct 2007 22:46:00 EDTMany mutual funds are estimating that they'll make big taxable distributions to shareholders this year, and that means investors planning to buy or sell fund shares in the weeks ahead should tread carefully.
Wed, 17 Oct 2007 00:13:00 EDTMillions of people overlooked an important tax break and made other costly mistakes on their 2006 returns, according to Treasury report.
Tue, 09 Oct 2007 20:25:00 EDTThe IRS is stepping up scrutiny of a popular tax strategy used by real-estate investors. The use of like-kind exchange has surged as real-estate investors searched for legitimate ways to postpone, or avoid, taxes on big gains.
Wed, 03 Oct 2007 22:22:00 EDTWith stock prices surging, many investors are realizing big gains when they sell off some of their holdings. But they should focus on their losers and not just their triumphs.
Tue, 09 Oct 2007 20:25:00 EDTMost people will get a modest dose of tax relief next year, but high-income taxpayers are likely to receive a bigger portion. Here's a look at tax brackets for 2008.
Tue, 18 Sep 2007 22:15:00 EDTSome Americans working abroad are getting an additional dose of relief. The Treasury Department issued new limits on housing costs that Americans in foreign locales may deduct or exclude on their 2007 tax returns.
Tue, 10 Jul 2007 22:38:00 EDTA new law "deputizes" tax preparers to police their clients, and it could lead to more paperwork and higher fees for taxpayers.
Tue, 26 Jun 2007 21:41:00 EDTCalifornia will become the latest state to threaten tax delinquents with public humiliation, by posting names on the Internet. States that have launched similar programs say the efforts improve collections.
Tue, 19 Jun 2007 23:14:00 EDTMany people who prepare their own tax returns make mistakes figuring how much of their Social Security benefits are taxable. Even experts agree the rules are surprisingly complicated. Here's some advice.
Tue, 05 Jun 2007 22:16:00 EDTAfter years of strong tax-revenue gains, most states are in good financial shape. But prospects for widespread tax cuts are dimming as governors and budget officials brace for a slowdown in tax-revenue growth.
Tue, 29 May 2007 22:53:00 EDTA new tax law further tightens the screws on wealthy parents who have made gifts to a child in order to take advantage of a lower tax rate on children's investment income.
Tue, 22 May 2007 22:24:00 EDTWhen the IRS questions your tax return, it's tempting to cut a check and make the problem go away. But instant surrender may be a costly mistake, because IRS notices may contain significant errors.
Tue, 24 Apr 2007 22:04:00 EDTThe IRS faces growing pressure from Congress to do a better job of nabbing those who should be filing tax returns but haven't.