Taxes
Latest Taxes News
IRS Finalizes Guidance On Treatment Of Inherited IRAs
The IRS has issued more guidance on the required minimum distribution (RMD) rules—this time in the form of final regulations.…
Discussing The “Optimized” Charitable Lead Annuity Trust (OCLAT)
There are many tax and estate planning transactions for clients to consider nowadays. While most U.S. citizen clients will only…
Navigating New IRS Form 1099 Rules And Understanding Reasonable Cause
In certain instances, taxpayers are required to file information returns with the IRS. For example, companies that pay independent contractors…
Modeling A 1% Wealth Tax—Back Of The Envelope Calculations
A wealth tax is a levy imposed on the net value of held assets, including cash, real estate, investments, and…
Despite Ruling, Fights Over Maryland’s Digital Advertising Tax Continue In Court
Maryland’s digital advertising tax—codified as the Digital Advertising Gross Revenue Tax Act—is in the news again following a recent ruling…
Grounded By IRS: U.S. Passport Denied Or Revoked For Delinquent Taxes
Did you know that your U.S. passport could be denied, revoked, or not renewed if you owe significant back taxes?…
An Overview Of Common IRS Penalty Defenses For A Late-Filed Form 3520
Generally, U.S. persons must file an IRS Form 3520 if they: (i) make transfers to or receive distributions from a…
IRS Urges Taxpayers To Seek Out Trusted Tax Pros, Not Social Media, For Tax Advice
The IRS has issued a consumer alert after seeing bad advice circulating on social media about several credits, including a…
The SALT Cap After 2025
Ted Peterson of the University of North Texas Ryan College of Business discusses the SALT deduction cap and its potential…
If You Are Under Audit And IRS Asks For More Time, Should You Agree?
Giving the IRS more time to audit you sounds counterintuitive or even crazy, but it is not. During the IRS…
