Internal Revenue Service (IRS)
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IRS losing the battle over mega-IRAs as company founders fill retirement accounts with nonpublic stock
Corporate and private equity executives can accumulate millions of dollars in tax-favored retirement accounts, taking advantage of gaps in the law and IRS enforcement, according to a Government Accountability Office study.The Internal Revenue Service has trouble fighting back, because legal
Caution: New IRS rules for IRA rollovers come with risks for advisers
Guidance from the IRS on its one-IRA-rollover-per-year rule requires advisers to know where clients' money has been or risk a snafu that could sever that relationship.
Tax chief tells Congress to renew tax extenders soon or risk filing-season delay
If IRS Commissioner John Koskinen could set the agenda for the upcoming lame-duck session of Congress, he would make renewal of dozens of expired tax breaks the priority. If Congress doesn't act before the end of November, filing season could be postponed, giving taxpayers a big headache.
Strategies arise to take advantage of new IRS after-tax rollover
Though after-tax dollars in a 401(k) can now be rolled into a Roth IRA, few employers accept such contributions.
Global consumer confidence soars
Plus: Credit Suisse exits the commodities trading business, Allianz stands by Bill Gross, silver has a golden summer run, three taxes we can all dislike together, and don't let tourist scams rain on your vacation
Advisers embrace liquid alts to navigate Fed policy
Breakfast with Benjamin: Advisers go liquid to navigate Yellen Fed policy. Plus: Global stocks are loving the Fed's latest non-move, energy stocks ride high on the unrest in Iraq, an IRS excuse that the IRS would never accept from you, and political correctness has the Washington Redskins ...
When searching for investment advice, consumers are drawn to the alphabet soup of credentials
Breakfast with Benjamin: Consumers drawn by alphabet soup of adviser credentials. Plus: Job cuts continue at Barclays, pushing for nationwide fracking, a big retirement risk, commodity hedge funds take a beating, and another smidgen of bad news for the IRS.
Barclays looks like the latest bank to back away from commodities trading
Breakfast with Benjamin: Barclays backing away from commodities. Plus: Goldman hangs tough in the commodity-trading arena, getting esoteric with income investing, riding on an M&A high, and IRS bonuses whether you've paid your taxes or not
New rules for the new year - Tax updates for 2014
With the end of the year a mere eight weeks away, the Internal Revenue Service has released its series of tax updates for 2014 and made a few other announcements. Both financial advisers and investors will want to keep an eye out for updates to account for inflation. A couple of key items will hold
IRS eases retirement loan procedures for Sandy victims
People affected by Hurricane Sandy, or their close relatives, can tap qualified retirement plans without having to follow certain procedures for hardship withdrawals, the Internal Revenue Service said.
Social Security's coming crisis quantified: $20.5 trillion
The $20.5 trillion fiscal gap separating Social Security's liabilities and assets -- its unfunded liability -- is enormous; it is 1.4 times U.S. gross domestic product and 34 times annual Social Security taxes.
Recession reduced wealthy's income while raising tax rate
A CBO report has found that the before-tax income of top earners fell by 36.3% between 2007 to 2009 while their tax rate rose
Couple who donated home for firefighters feeling burned by IRS
A Virginia couple who donated their house to local firefighters for a training exercise can't deduct the property's value from their federal income taxes, a divided U.S. Tax Court has ruled
Freeing some seniors from required IRA distributions is worth the cost: J. Mark Iwry
Worth the cost? Proposal would exempt from required IRA distributions seniors with less than $75,000 in retirement assets
CPAs seek estate tax certainty from Congress
CPAs say uncertainty impedes proper estate planning, places undue burden on taxpayers
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