Tax

Many plan participants told the U.S. Government Accountability Office they didn't understand their four main options — or the potential tax consequences.

Notice 2024-55 from the IRS explains exceptions to the additional tax for certain emergencies, and for victims of domestic abuse.

The Internal Revenue Service plans to begin slowly paying some of its older claims for the fraud-plagued Employee Retention Credit this summer, but is not lifting its moratorium.

Voting 7-2, the justices said Congress has the constitutional power to tax people and companies on their share of undistributed corporate income, at least when it comes to so-called pass-through businesses.

This year's Greenbook proposals contain some greatest hits, including a higher corporate minimum tax.

Residents with high earnings in these 20 states get a bigger break on their taxes, paying a smaller percentage of their income.

The growing fixed-income products carry some risks, but their returns this year are attracting more financial advisors and their clients, according to experts.

The deal values closely held Fisher Investments at $12.75 billion and is part of the founder's estate planning, according to the firm.

The Internal Revenue Service is setting up a new unit to target the use of basis shifting between related parties as a way for partnerships to avoid paying taxes.

These issues loom especially large for the LGBTQ client base, which is the focus of a new national initiative launched by financial advisors, lawyers and other professionals.