Millionaire Audits Are Down, Crushing Federal Tax Revenue
Just two of every 100 millionaires in America were audited by the Internal Revenue Service in 2020 as HNW audits are down 72% over the past decade.
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Tax Specialists Scramble To Keep Up With Stimulus
Every silver lining, if you'll allow a reversal of the usual cliche, has a cloud. And professional tax preparers are feeling the rain.
Retirees can benefit from return of Qualified Charitable Deductions
A tax strategy that offers substantial advantages to affluent retirees is back as the QCD once again provides the equivalent of a free lunch.
Economic distortions of wealth taxes
The US has never had a comprehensive wealth tax, and while some European countries have them, many more have repealed wealth taxes over the past several decades.
Senate Estate And Gift Tax Bill Will Reduce Exemption To $3,500,000 And Take Away Many Opportunities
Besides a reduction of the estate tax exemption and reduction of the gifting exemption, it will eliminate many planning techniques and structures.
Income tax deadline extended - or is it?
On March 17, the IRS announced a one-month extension of the 2020 individual income tax filing deadline from April 15, 2021 until May 17, 2021.
How to be smart about taxes on bitcoin
If you sold or traded digital currency last year, you're probably sitting on big gains, and those will come with hefty tax bills.