This article examines three Tax Court cases where the petitioners attempted to use medical hardship to avoid rules on early withdrawals.
Stay updated with the Tax Insider
Every Thursday, get practical and timely articles on tax topics affecting individuals and businesses. Free subscription >
Find out about a new requirement for life insurance companies to report sales of life insurance policies.
Stepped-up security to deter and prevent fraud means legitimate taxpayers and their tax professionals must overcome extra hurdles to comply with their tax obligations.
The IRS is ending the Offshore Voluntary Disclosure Program just as its enforcement of cryptocurrency compliance increases.
A potential side effect of fewer taxpayers itemizing their deductions is that these taxpayers may choose to reduce or eliminate charitable contributions.
Editor's note: Thank you for your interest in this article. The deductibility of business meals is an evolving issue under P.L. 115-97, known as the Tax Cuts and Jobs Act, and this article is no longer available.
The IRS identified transactions that improperly avoid limits on contributions to Roth IRAs.
Under Sec. 911, a U.S. citizen whose tax home is in one or more foreign countries, who spends enough there, can exclude a certain amount of foreign earned income.
Treaties may have exceptions to saving clauses that benefit U.S. persons in terms of their U.S. income taxes.
This column discusses the portions of the act likely to affect the typical inbound real estate investment structure.
The IRS continues to press for greater tax compliance in the virtual currency arena.
Disciplined planning for realizing gains lessens the potential for unanticipated taxes or ugly year-end surprises.
Most people know that this credit is available for qualifying solar property installed in their homes, but they may not realize the credit is also available for rental properties they may own.
Foreign nongrantor trusts with U.S. beneficiaries have always been highly regulated under the throwback rules .
The DOL has provided safe harbors to help employers ensure they avoid ERISA.
A number of wellness plans and health plan arrangements have been marketed to employers as a way to save employment and income taxes for employers and employees.
The loans may be recharacterized as compensation, which can trigger unexpected income and payroll taxes for the doctor.
A recent Tax Court case provides a cautionary tale for taxpayers who rely on do-it-yourself tax preparation software.
This article examines the PATH act provisions and other developments favorable for taxpayers.
This column provides tax preparers an outline of questions to ask clients when evaluating roof repair costs.