Income Tax

The Internal Revenue Service has released proposed regulations implementing a new federal law authorizing states to offer specially-designed tax-favored ABLE accounts to people with disabilities who became disabled before age 26.

Over the past nine years, CohnReznick’s outing has raised a combined total of more than $1.45 million for these two organizations through the firm's charitable outreach arms, the CohnReznick Foundation and the CohnReznick CARES initiative.

The IRS is making easier for taxpayers to calculate the optimal amount. On its website at www.irs.gov, you can find a withholding calculator that does all the grunt work for you. All you have to do is go through several simple steps and enter the ...

Taxpayers are all smiles when they are able to sell their principal residence at a sizeable gain and avoid any tax liability. Under the home sale exclusion, they can generally exclude up to $250,000 of gain from tax or $500,000 if they are married and ...

Congress created Empowerment Zones in 1993. Most zones had an expiration date of Dec. 31, 2009. This is the third extension of the expiration date.

The IRS convened a Security Summit on March 19 with the chief executive officers and leaders of private sector firm and federal and state tax administrators to discuss emerging threats on identity theft and expand existing collaborative efforts ...

Earlier this month, Sage today launched the Sage Foundation, which it hopes will lead "Corporate Compassionate Capitalism" around the world.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.