In many instances, married taxpayers are subject to a “marriage tax penalty,” paying more in federal income tax than they would if they were unmarried. This article examines the current state of the marriage tax penalty after the changes made by the TCJA.
The sale of life insurance policies, commonly referred to as life settlement transactions, is becoming an increasingly popular and heavily marketed way for policy owners to realize the value in their life insurance policies. This article discusses the financial and tax ramifications of life settlement transactions and how CPAs can help clients obtain the best results from them.
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
