With the filing season upon us, a raft of brand new challenges await ahead of the April 15 deadline.
Given the size and number of tax changes proposed by the Biden administration, it’s no wonder advisors face challenges in helping clients prepare for the year ahead.
The outcomes of two elections in Georgia that are scheduled for Jan. 5 are expected to determine the balance of power in the Senate and may also have an impact on the kind of tax planning that accountants should be advising their clients to do.
Concerns are increasing over the growing spread of COVID-19 and the preparedness of the incoming administration to deal with vaccine distribution and other critical issues.
The pandemic is throwing a monkey wrench into plans for the Internal Revenue Service to reorganize itself to provide better taxpayer service.
President Donald Trump spent months on the campaign trail taking credit for “opportunity zones,” a policy meant to encourage investment in distressed communities across the U.S. Joe Biden’s team sees potential in the idea, too.
The president-elect's pledge to repeal President Donald Trump‘s tax cuts as soon as he is inaugurated may be stymied for the foreseeable future.
Despite lingering uncertainty over the U.S. election, the country’s ultra-rich already have plenty to celebrate from Silicon Valley to Illinois.
The outcome of Tuesday’s election could be profound tax changes, but that’s only if one party wins control of both houses of Congress and the White House.
As the country looks to make its choice between two decidedly different candidates, tax preparers are watching the race play itself out from a unique vantage point.