IRS News
Tax Rules Your Lawyer Might Not Know
Most disputes settle, and the tax planning opportunities with settlements are better than with a judgment. If you’ve gone to trial, you don’t have the time or the opportunity to try to shape any tax wording in a judgment. Settlements are different, so hammer out tax language.
forbes.com
News
These People Will Get An Automatic Extension On Their Taxes
All other taxpayers can request an extension to file, but 2020 payments still need to be in by May 17, or penalty interest may be charged on the balance due.
forbes.com
The Biden And Wyden Tax Plans
Tax Notes reporters examine President Biden’s Made in America Tax Plan and the international tax framework by Senate Finance Committee Chair Ron Wyden, D-Ore., and their international impact.
forbes.com
A Small Change To The Federal Tax Code Could Greatly Benefit Cash-Short Retirees With No Loss Of Tax Revenue
Making annuity payments wholly financed with HECM reverse mortgages exempt from Federal taxes would enhance the retirement income of millions of retirees whose wealth consists largely or entirely in home equity, with no reduction in tax revenues
forbes.com
Biden's Plan for Inherited Real Estate May Impact More People Than Just the Wealthy
President Joe Biden is asking Congress for higher taxes on inherited property. The proposal may impact family homes with more than $1 million in gains.
nbcwashington.com
The Tax Issues Facing Tax-Exempt Organizations
David Thompson of the National Council of Nonprofits talks about how tax policy affects tax-exempt organizations and tax issues on the nonprofit industry’s radar today.
forbes.com
Why Some Lawmakers Are Pushing to Repeal Limits on State and Local Tax Deductions
Legislators on Thursday announced a bipartisan caucus to seek repeal of the SALT cap to help middle-income taxpayers in their districts.
nbcwashington.com
Taxing The Rich: The Evolution Of America’s Marginal Income Tax Rate [Infographic]
Even though Joe Biden intends to raise America's top marginal income tax rate from 37% to 39.6%, that's a long way from the 1960s when the country's highest earners were taxed at over 90%.
forbes.com
SALT Tax Deduction: Will Democrats Cut Taxes For The Rich?
You won’t believe this—a number of Democrats are advocating a big tax cut for the rich!
forbes.com