Tax Updates

Home Tax Updates (Page 23)

10 estate and income tax questions – 5

Sep 19, 2023

5. Does the estate contain a principal residence or vacation home with significant value? (more…)

The unique benefits of 529 college savings plans

Sep 12, 2023

To start with the basics, a 529 plan is legally known as a “qualified tuition plan.” It is a tax-advantaged plan that...

Guidance issued on consequences of certain state payments after 2022

Sep 8, 2023

Following up on guidance for payments made in 2022, the IRS on Wednesday issued Notice 2023-56, which describes the federal tax...

Sec. 965 transition tax: Installment payments causing processing errors

Sep 5, 2023

The IRS has seemed to struggle from the outset of the Sec. 965 transition tax to develop workable administrative procedures...

Tax fraud and bankruptcy dischargeability

Sep 1, 2023

The federal laws governing bankruptcy and taxation often intersect, although their makeup, effectiveness, and interpretation are significantly impacted by distinct...