Taxes

The 2022 tax year has ended and tax professionals everywhere are encouraging their small business clients to close their books and start thinking about their tax returns. In a perfect world these clients have worked with their tax and accounting professionals throughout the year to optimize their small business taxes. Of course, we don’t live

Today’s Social Security column addresses questions about whether spousal benefits are half what a spouse is actually receiving, the availability of benefit estimates if you’re already collecting another benefit and who can file for children’s benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,

Valerie Dickerson of Deloitte Tax LLP discusses key developments in state tax policy from 2022 that will likely remain relevant in 2023, including new incentives from the CHIPS and Science Act. This transcript has been edited for length and clarity. David D. Stewart: Happy New Year from Tax Notes. I’m David Stewart, editor in chief

Lisa Rein, Alice Crites, and Jennifer Jenkins of The Washington Post have written an excellent exposé of Social Security’s treatment of the disabled and poor, including its use of archaic job-availability lists to deny benefits to obviously terribly disabled people and its imposition of astronomical penalties on a range of people, many poor or disabled,

Grace Perez-Navarro’s career at the OECD began unexpectedly — as many life-changing events do — with a quick, off-the-cuff decision she made on an otherwise routine day in the early 1990s. On that day, Perez-Navarro had settled into what she thought would be a long-haul career handling international tax matters at the IRS’s Chief Counsel

As corporate finance professionals brace for a fresh set of twists and turns, 2023 is looking like it’s going to be just as disruptive as each of the previous three years. That’s an incredible, seemingly impossible, standard to reach, but with a coming economic downturn, new financial regulations in virtually every jurisdiction, and an emerging

The intersection of taxes and bankruptcy present interesting issues. A recent bankruptcy case demonstrated this by considering whether Earned Income Tax Credit refunds (and their New Mexico state equivalents) can be exempt from creditors in a bankruptcy proceeding. The case shows how the answer can depend on where you live! In this case, under New

The first two pages of the recently released 2015 to 2020 tax returns of Donald Trump, provide some insight into how he invests. It appears that Mr. Trump has relatively very little of his wealth invested in publicly traded stocks. His income from qualified dividends has been between $14,000 and $20,000 for 2017 to 2020.

Every politician’s favorite fantasy is now one step closer to reality. With the public release of former President Trump’s tax returns, the House Ways and Means Committee may have opened a portal into chaos—even more chaos than could be considered normal when it comes to matters that concern interactions between Congress and the IRS. Congress

Special thanks to Brandon Galvao, Dakotah Flint, and Peter Farrell for their assistance in writing this article. Join us January 3, 2023 for New Tax Provisions Update from 5:00 pm to 5:30 pm EST. Email [email protected] to register. The SECURE 2.0 Act of 2022, which was included in the $1.7 trillion omnibus spending bill signed