Tax

Donald Trump said that he would revive the state and local tax deduction, a popular tax break for New Yorkers that the former president limited during his time in the White House.

Between the coming sunset of the Tax Cuts and Jobs Act, the presidential election and a host of other factors, this is shaping up to be a tough year for advising clients.

The Internal Revenue Service issued final regulations on consistent basis reporting between an estate and a person acquiring property from a decedent.

Those earning between $30,000 and $40,000 filed 3,160,016 refundable CTC claims and received a total of $6,561,128,000 in refunds.

The Treasury Inspector General for Tax Administration, in two reports, critiqued the IRS on cybersecurity for both its data warehouse and its cloud infrastructure.

The IRS has postponed payment and filing deadlines for those affected by the storm.

The accounts are expected to grow by another trillion dollars over the next decade because of their tax and flexibility advantages, Daffy CEO Adam Nash said.

Donald Trump's agenda of higher tariffs on U.S. imports would help offset his expanding tax-cut proposals if he's reelected in November, according to his running mate.

Taxpayers earning more are more likely to choose to itemize their deductions, while taxpayers earning less tend to favor the standard deduction.

The Internal Revenue Service issued a notice on Friday excluding from gross income the value of any tribal general welfare benefit.