TAX PRO TODAY

Clients confused over tax lawmaking

By Jeff Stimpson      

Tax pros share what aspects of the current tax legislation being considered in Congress brings the most questions from clients. Read story →

Biden aims to slash ‘time tax’ for Social Security, storm aid

By Justin Sink and Jennifer Jacobs       3 min read

Among his mandates: having the IRS call taxpayers back, rather than making them sit on hold. Read story →

UBS’s record tax fraud penalty slashed to $2B

By Gaspard Sebag and Phil Serafino       3 min read

A French court of appeals upheld a 2019 finding that the bank had illegally helped clients hide money, but levied less than half the original penalty. Read story →

Zero taxes, golf and beach houses create a crypto island paradise

By Francesa Maglione       8 min read

Puerto Rico is becoming a haven for crytocurrency investors looking to protect their gains. Read story →

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Lawmakers demand answers on IRS backlog before next tax season

By Michael Cohn       4 min read

A group of 99 House Republicans has sent a letter to Internal Revenue Service commissioner Charles Rettig asking for information about how the IRS plans to fix the backlog of unprocessed tax returns before the 2022 filing season. Read story →

Fiscal cliff nears for U.S. families as pandemic benefits fade

By Nancy Cook, Janet Lorin and Laura Davison       4 min read

For Americans worried about rising prices and shrinking household budgets, January could bring another blow to the bottom line. Read story →

IRS rolls out more e-filing forms for nonprofits as systems lag

By Michael Cohn       7 min read

The Internal Revenue Service is asking more charities and tax-exempt organizations to file their information returns electronically as required by the Taxpayer First Act of 2019, but its aging systems are experiencing delays that are frustrating tax professionals. Read story →

Tax Fraud Blotter: Rough landings

By Jeff Stimpson       6 min read

Just make up employees; working from home; distrust; and other highlights of recent tax cases. Read story →

A year-end business compliance checklist

By Nellie Akalp      

As the end of the year approaches, it’s time for your business clients to take stock of — and tackle — any outstanding business compliance tasks. Read story →

Secret millions exposed in twist to billionaire art estate saga

By Gaspard Sebag       4 min read

The Wildenstein family’s most vociferous critic stands accused of something she has denounced all along — tax evasion. Read story →

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