Our Insights

How to distribute the wealth during retirement

Considerations for individuals with different sources of retirement income

Back to basics: How to understand the differences among tax statutes, regulations, and other official guidance

Making sense of the U.S. Tax Code can be a challenge without a full understanding of these resources

Tales from the Tax Court, Part 1: Tax Court opinions and how to make sense of them

Tax Court decisions help taxpayers and tax professionals shed light on complicated issues

Debts that make tax refunds disappear

The government takes refunds to collect five types of debt. Here’s how it happens.

“Childless” taxpayers and the Earned Income Credit

Taxpayers who were previously excluded from the credit because of their living situations may now be able to claim it

Donor-advised funds: What are they and why are they growing?

Taxpayers get immediate tax deductions for giving cash or property to charities

Share and share alike: When employees get part ownership in a company, they take the bad with the good

Owners don’t always understand what happens when they make employees into partners

Why clergy returns can get complicated

Completing a return for a “minister of the gospel” can be a mess of biblical proportions without a full understanding of how these special taxpayers are treated

Stolen identity refund fraud may be down, but it’s not out

States are getting creative in the fight against SIRF

Back to basics: Tried and true tax savings represent an opportunity for millennials

It doesn’t take advanced tax planning to combine commonly available tax savings to reduce effective tax rates

How taxpayers can tap retirement funds early without penalty

A special method allows early access to funds, but it comes with tight restrictions

Post-death tax planning for the unprepared, Part 1: Who is responsible for managing tax issues?

The personal representative should identify the deceased person’s assets and notify payers

Taxing the gig economy, Part 4: Artists, musicians, and makers who cross borders should be proactive to avoid major tax pitfalls

Multistate and international tax rules could apply to movers and shakers in the gig economy

The trouble with PTPs: These attractive investments can lead to major tax headaches

Get a basic understanding of publicly traded partnerships, and how to spot and plan for potential tax traps

Settlements and court judgments: taxable or not?

How the IRS taxes three types of damage awards, and how to proactively mitigate the tax consequences

Getting multiple Forms 1095 for health insurance isn’t always cause for concern

Taxpayers can receive combinations of A, B, and C versions of the form. Here are some common scenarios.

Taxing the gig economy, Part 3: The unintended consequences of being a small business

More tax responsibilities and potentially … more IRS problems

Taxing the gig economy, Part 2: Nontraditional home rentals aren’t always a perfect fit with the tax law

Defining a rental for tax purposes can be difficult – potentially involving rules for small business, vacation homes, and passive activity losses

Taxing the gig economy, Part 1: ‘Interesting tax situations’ create gray areas for on-demand drivers

Here’s what we know and what we don’t know about business mileage deductions for drivers using ride-sharing apps

Three tax benefits for families making elder care decisions

Families should understand the pros and cons of tax-exempt Medicaid waiver payments, itemized medical expense deductions, and the dependent care credit

Certifying Acceptance Agents can help taxpayers apply for ITINs and keep their original documents

CAAs can attest to taxpayers’ documents and identities, help navigate the application process, and address any IRS issues resulting from the application

IRS tests relaxing of installment agreement rules

People who owe between $50,000 and $100,000 will find it easier to get into a payment plan

When taxpayers see a side hustle, the IRS may see a hobby

The difference matters, because the tax bill can be substantial. Here are the nine factors the IRS uses to determine whether a business is really a hobby.

Here come the private tax debt collectors … again

Seven things taxpayers and their advisors need to know about the upcoming IRS program

Income generated from virtual worlds is still taxable in the real world

People who make money on Pokemon Go! or other virtual games might catch a tax bill with the IRS

Deferred compensation for athletes and high earners can be a financial win-win

It’s important to consider federal and state tax implications on payments that could stretch well into the future

Timing is everything: The date taxpayers get an SSN or ITIN now affects whether they’re eligible for refundable tax credits

Learn what happens when taxpayers don’t receive their tax identification numbers quickly, or when they switch to an SSN

Misconceptions abound in the realm of Native American tribal income taxation

Benefits for individual Native Americans are taxable, but some specific and fairly common exclusions can apply

Form 1099-B: The basis is probably wrong for employees who exercised nonqualified stock options

Most of the time, employees will need to adjust their reported basis to avoid being taxed twice

State taxes and the military: What servicemembers and their advisors need to know

Servicemembers and their spouses may owe taxes in one state, multiple states, or no states at all. Avoid common points of confusion by knowing the basic rules.

Look no further: Tax-reduction opportunities start with the return

A mid-year review can reveal countless opportunities for all types of taxpayers and their advisors to plan ahead for next year

ITIN renewals: When ITINs will expire and how taxpayers and their advisors can prepare

New rules that call for expiration, deactivation and renewal of ITINs impact millions of taxpayers

International

Those giving up U.S. citizenship shouldn’t forget tax obligations

There are essential tax rules that covered expatriates and their advisors need to know to stay in compliance before, during, and after an individual exits the U.S.

Green upgrades: Three financial incentives for taxpayers looking to make energy-efficient improvements

Tax breaks, special financing, and private-sector programs can help individuals and businesses make the switch

Annuities are popular, varied – and complicated when it comes to taxes

Determining tax treatment for annuities doesn’t have to be a mystery. Here’s a guide.

When divorce decrees and federal tax law aren’t on the same page, taxpayers can lose dependent benefits

A cautionary tale about how one taxpayer was – and wasn’t – following all the rules

The adoption tax credit – What’s the catch?

There are three “catches.” They involve timing, qualifying, and post-filing activity.

IRS impersonator scams feel real if you don’t understand the real IRS

Taxpayers can avoid phone scams by knowing how the IRS really works

Surfing the SIRF: States are taking measures to keep taxpayers’ refunds afloat in a sea of identity theft

With Stolen Identity Refund Fraud on the rise, states are taking new approaches to help taxpayers stay ahead of the break or recover from a refund wipeout

The ABCs of ACA, Part 2: Forms 1095-B and -C will help taxpayers spell out their insurance coverage

Part 2 of this series explains two forms that are entering onto the scene for the first time in the 2016 tax-filing season

The ABCs of ACA, Part 1: Form 1095-A will help taxpayers spell out their insurance coverage

Part 1 of this series outlines why the Form 1095-A is important for many taxpayers

Can the IRS audit taxpayers year after year?

While the IRS has discretion to audit taxpayer returns for the same issues on subsequent years, taxpayers can invoke an IRS policy to try to suspend the repetition

What taxpayers should do when they inherit something they don’t want

Prevention is best – but taxpayers can take specific steps when inherited assets cause more problems than they’re worth

International

Cross-border workers sometimes pay into one or more Social Security systems with no future benefit

Some – but not all -- nations are signing special agreements to solve this problem

International

U.S. taxpayers with foreign investments should be proactive

Taxpayers and their advisors should closely examine how multiple layers of international tax law and new U.S. requirements could affect taxpayers’ investments and tax liabilities

The kiddie tax – not just for kiddies anymore

A 1986 law meant to curb tax avoidance by wealthy parents can cause unintended consequences for college students (and their parents) who don’t know the rules

Collecting and delaying Social Security benefits will no longer be an option for married couples

In light of new law that will eliminate two popular strategies, married couples retiring in the future need to rethink how to maximize payouts

Crowdfunding: One platform with many tax results

Despite lack of IRS guidance in this emerging area, taxpayers and their advisors should be aware that different tax rules apply to various types of income and donations made through online fundraising

Parking space sharing apps create new source of revenue for property owners and the IRS

Individuals who are auctioning or leasing parking spaces should look into the tax implications

Putting stock in the future: How startup employees can navigate their options

Employees with restricted stock should evaluate the company’s outlook – and consult with an experienced tax advisor when deciding on the right tax treatment

The ‘safe harbor’ home office deduction: Easier may not be better

Self-employed taxpayers should run the numbers both ways on how to calculate this popular deduction

Keeping property in the family can get complicated

What a father’s stock portfolio, an aunt’s house, and a mother’s antique collection can teach us about family property transfers

As economy recovers, ‘unlikely landlords’ may be looking to donate rental property to charity

Despite the attractive tax breaks, taxpayers and their advisors should understand three common scenarios that can reduce or negate any benefit

Four things taxpayers need to know before opening an ABLE account

Potential tax consequences, heavy recordkeeping, and complications with other government benefits could surprise some families if they’re not prepared