Tax Law News and Insights

What does it mean to be a U.S. income taxpayer? Very simply, it means that you are taxable on your worldwide income and gains, even if you don't live full-time in the U.S. Any U.S. citizen is likely already familiar with this concept (and if they weren't, perhaps they learned...

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After a change in IRS personnel and three years of relentless taxpayer complaints, the IRS made a welcome announcement last week. At the ABA Tax Section meeting, an IRS spokesperson confirmed that they will not finalize the 2019 proposed section 382 regulations that would have eliminated the ability to increase...

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Some might consider it a good problem to have: Saving too much  money for college. But if the money is held in a Section 529 college savings plan, there could be tax consequences to overfunding the account. THE TAX MAN GIVETH 529 plans are tax-advantaged accounts designed to help families save money...

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