Artificial intelligence may incrementally become a product’s component until it crosses a threshold into being a digital ...

Proposed regulations issued Monday would raise the cost of the letter to $76, from the $56 set in 2025. High‑net‑worth families can preserve wealth across generations by pairing intentionally ...

Though the lifetime estate tax exemption remains historically high at $15 million, 1 advisers still encounter many households whose estates will face a large estate tax liability despite their best ...

This annual update summarizes key changes advisers need to be aware of to ensure their clients’ estate plans remain effective and in line with their intentions. It covers developments in the estate ...

The basic rule for when a partner recognizes gain as a result of a distribution is found in Sec. 731(a)(1), which applies to both current distributions (from current income and activities) and ...

Individuals are subject to two income tax systems: the regular income tax and the alternative minimum tax (AMT). Taxpayers must compute their tax under each system and pay the greater of the two ...

Editor: Kevin D. Anderson, CPA, J.D. In an increasingly global economy, workers are experiencing unprecedented mobility. As such, Americans living abroad, even for a limited time, often participate in ...

In December 2022, Treasury and the IRS stated that they intended to implement the Infrastructure Act amendments to the Code by issuing new regulations and providing forms and instructions for broker ...

Editor: Mo Bell-Jacobs, J.D. Through Sec. 1202, Congress granted taxpayers a significant boon to encourage new investment in developing companies. The provision allows qualifying investors in certain ...

Taxpayers may be subject to the risk that an IRS examination could increase (or create) a gift tax or estate tax liability many years after a gift is made. Practitioners can help clients limit this ...

Many practitioners who counsel business clients, both small and large, are familiar with the difficult challenges that quickly arise when taxes are withheld from employee wages but not turned over to ...

Planning with revocable trusts has become increasingly popular in recent years. In many instances, the motives for using a revocable trust are nontax and include avoiding probate, asset protection ...