IRS

The Internal Revenue Code includes several tax strategies that may help your clients better prepare for the potential costs of long-term care—here are three to consider.

Qualified deductible expenses include the cost of books, tuition, food, clothing, transportation, medical and dental care, entertainment and other amounts actually spent for the student's well being.

Be aware, however, that this special tax treatment isn’t automatic. To qualify for Section 1244 treatment, the following four main requirements must be met.

But Section 529 plans don’t have to be used only for your kids. One can be set up to reward virtually any beneficiary—including yourself!

When planning your travels this summer or any other time of the year—business or personal—just remember that the IRS pays close attention to expenses incurred.

The AICPA supports altering the due dates for estimated tax payments, stressing that it would be better to more closely tie payment due dates to the normal quarter date, which is traditionally 15 days after the quarter end.

The panel voted along party lines to make public 400 pages of transcripts from interviews with two IRS employees.

The system uses thousands of machine learning models trained with millions of tax returns, AI algorithms, and generative AI technology.