From the Press.

Don’t try this at home

As printed by Journal of Accountancy A taxpayer's physical possession of gold coins purchased with her individual retirement account (IRA) caused her to have taxable distributions from the IRA, the Tax Court held. Facts: In 2015, Donna McNulty purchased IRA services...

How married couples can use trusts in estate planning

As printed by Journal of Accountancy This article discusses some strategies that married taxpayers can use to manage their estate tax liability by creating certain types of trusts. During the past 10 years, the federal estate tax has not been a major concern for most...

7 tax changes you need to know before filing for 2021

The 2020 tax year was wild. Pandemic relief bills brought a slew of changes, and filing for the 2021 tax year doesn’t look like it’s going to be much easier. Some temporary tax provisions for the 2020 tax year were extended through 2021, while others were not. Then...

IRS Addresses Questions Related to Economic Impact Payments

The IRS has announced that distribution of economic impact payments would begin in the next three weeks. However, some seniors and others who typically do not file returns would be required to submit a simple tax return to receive the stimulus payment. Further, the...

Income Tax Filing Deadline Moved to July 15 from April 15

Treasury Secretary Steve Mnuchin announced today that the federal income tax filing date has been extended from April 15 to July 15 for people who owe $1 million or less and corporations that owe $10 million or less.

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