Taxes

Tax audits are down. By a lot. Internal Revenue Service audit rates of individual taxpayers’ returns have dropped for all income levels from tax years 2010 to 2019, according to a new Government Accountability Office report. On average, individual tax returns were audited over three times more often for tax year 2010 (0.9 percent) than

Tax software company Column Tax, which provides an API that enables mobile banking and fintech companies to offer tax products to their users, announced today that it has raised a $21.7 million series A. The round was led by Bain Capital Ventures with participation from Felicis and Not Boring, as well as existing investors Core

Why is Congress prepared to spend billions of dollars for new aid to Ukraine without requiring offsetting tax increases or spending cuts at the same time lawmakers are demanding that more COVID-19-related therapeutics and testing be fully paid for? It can’t be about the money. The next round of Ukraine aid will cost about $40

Elodie Lamer and Nana Ama Sarfo of Tax Notes discuss the tax implications of golden visas and passports, which allow affluent foreigners to receive residency or citizenship in exchange for a minimum level of investment. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor

Tax returns are annual drudgery, but they matter. They matter for individuals, businesses and investment entities. Everybody must file one, or more than one, depending on how many entities you have. You may have state taxes to file too. You might think your filing date is obvious, and hopefully before the deadline. The one everyone

Every U.S. Tax Court opinion in an IRC section 482 case dutifully recites some variation of the necessary incantation: The IRS has broad discretion in applying section 482, and its determinations must be upheld unless the taxpayer can establish that the IRS abused its discretion by making adjustments that are “arbitrary, capricious, or unreasonable.” However,

ABLE (Achieving Better Life Experience) accounts have been around since 2014, but if you are today years old when you are learning about them don’t be embarrassed. In ancient times, I had ten or so up and coming accountants whose careers I felt responsible for. I counseled them that clients expected them to have general

Today’s Social Security column addresses questions about what effects early Social Security spousal benefits can have in various benefit rates, how delayed retirement credits are applied and how a public pension can affect survivor’s benefit? Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc.

Time weighted rate of return and IRR (internal rate of return) are identical where there have not been any contributions or distributions from a portfolio during the measurement period. Differences between time weighted rate of return and IRR (also known as “money weighted rate of return” and “dollar weighted rate of return”) arise when there

Should death be taxing? Amid budget surpluses, states started slashing income taxes last year. But only two have made significant changes to their estate or inheritance taxes so far. Last year Iowa legislators decided to phase out the state’s inheritance tax by January 1, 2025. And this year Nebraska legislators made pro-taxpayer tweaks to its