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Tax planning

House Republicans reintroduce bill to repeal ‘death tax’

by Adrian Jhonsan
House Republicans reintroduce bill to repeal ‘death tax’

Rep. Jason Smith, R-Mo., speaks during a House Oversight and Accountability Committee impeachment inquiry hearing into U.S. President Joe Biden on Sept. 28, 2023. Jonathan Ernst | Reuters House Republicans …

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How parents can gain from two child credits this tax season

by Adrian Jhonsan
How parents can gain from two child credits this tax season

Maskot | Maskot | Getty Images The cost to raise a child has become expensive for parents in the U.S. As tax season approaches, it’s smart to pay attention to …

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Ohtani’s $700 million contract sparks deferred income tax concerns

by Adrian Jhonsan
Ohtani’s 0 million contract sparks deferred income tax concerns

Japanese baseball player Shohei Ohtani attends a press conference on his presentation after signing a 10-year deal with the Los Angeles Dodgers at Dodgers Stadium in Los Angeles, California, on …

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You can still lower your 2023 tax bill with these last-minute moves

by Adrian Jhonsan
You can still lower your 2023 tax bill with these last-minute moves

The year-end is quickly approaching, but there’s still a chance to reduce your 2023 tax bill or boost your refund with some last-minute moves, experts say. Dec. 31 is the …

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IRS is resuming automated collection notices. Here’s what to know

by Adrian Jhonsan
IRS is resuming automated collection notices. Here’s what to know

The Good Brigade | DigitalVision | Getty Images How IRS collection notices work Typically, CP14 is the first IRS notice for an unpaid tax balance, followed by three or four …

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IRS offers $1 billion in penalty relief. What taxpayers need to know

by Adrian Jhonsan
IRS offers  billion in penalty relief. What taxpayers need to know

Jgi/jamie Grill | Tetra Images | Getty Images The IRS is waiving roughly $1 billion in late-payment penalties for millions of taxpayers with balances under $100,000 from returns filed in …

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3 year-end investment tax tips from top-ranked financial advisors

by Adrian Jhonsan
3 year-end investment tax tips from top-ranked financial advisors

Catherine Falls Commercial | Moment | Getty Images The page has almost turned on 2023 — and that means time is running out to make certain tax moves by year’s …

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IRS rejects 20,000 tax refund claims for employee retention credit

by Adrian Jhonsan
IRS rejects 20,000 tax refund claims for employee retention credit

IRS Commissioner Daniel Werfel speaks during an IRS event on August 2, 2023 in McLean, Virginia. Alex Wong | Getty Images The IRS is sending more than 20,000 rejection letters …

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Supreme Court case on ‘income’ could have major implications for taxpayers

by Adrian Jhonsan
Supreme Court case on ‘income’ could have major implications for taxpayers

People exit the Supreme Court building in Washington, D.C. on Tuesday, June 27, 2023. Minh Connors | The Washington Post | Getty Images The Supreme Court is set to hear …

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Money market funds may deliver a surprise tax bill amid higher yields

by Adrian Jhonsan
Money market funds may deliver a surprise tax bill amid higher yields

If you funneled cash into money market mutual funds in 2023 amid rising interest rates, you may have a surprise tax bill in April, experts say. Investors and institutions have …

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