Income Tax

Depending on your situation, you might elect to forgo preferential tax treatment on certain long-term capital gains and qualified dividends in favor of deducting investment interest expenses.

Under the “ordering rules” established under IRS regulations, most of the payout of a nonqualified Roth distribution may be tax-free anyway—maybe even all of it.

The annual gift tax exclusion allows you to gift up to a specified amount to each recipient each year without any gift tax liability.

The IRS has hit the restart button on sending out automated collection notices, ending a two-year hiatus because of the COVID-19 pandemic.

Hunter Biden must respond to federal charges that he failed to pay taxes on millions of dollars he received from foreign businesses.

Biden’s lawyers argue that all gun and tax charges should be dropped because their client has immunity under a deal he struck in July.

Biden is accused of failing to pay his taxes on time from 2016 to 2019, filing false and fraudulent tax returns in 2018, and tax evasion.

Let’s talk through how these two functions differ, and how you as a tax professional can better define them for your clients to create additional revenue streams.