Category: Federal Tax Headlines

Wolters Kluwer, Inc. has projected tax brackets and other inflation-adjusted amounts for the 2020 tax year. Highlights of projected 2020 amounts, including tax brackets for…

The House of Representatives voted to repeal the Affordable Care Act’s (ACA) so-called “Cadillac” excise tax on high-cost employer insurance plans.  Unless the Senate takes…

Self-directed IRAs open up investment opportunities, but carry risks.  A wrong move can result in current taxation of IRA income, immediate taxation of all assets…

Congress returns from its summer recess on Monday, September 9 and it may address several pieces of outstanding tax legislation over the next month. The…

The IRS is sending letters this summer to more than 10,000 taxpayers who may have failed to properly report their virtual currency transactions. Taxpayers should…

Taxpayers who mine, sell or exchange cryptocurrency likely owe federal income tax because of those activities.  But have they reported that income or gain? After…

The IRS is proposing to amend hardship distribution regulations to reflect changes in the law. In particular, the proposed regulations would reflect changes in the…

The House on April 18 approved the two largest bills of a bipartisan IRS reform package. The bills aim to restructure the IRS for the…