IRS Says Americans Renounce Citizenship in Record Numbers
International tax lawyer Andrew Mitchel explains why, for some American-born expats, the costs of U.S. citizenship have exceeded its benefits.
HSBC List Shows Putin Allies, Drug Lords Used Swiss Secrecy
The private-banking unit of HSBC profited for years handling secret accounts whose holders included drug cartels, arms dealers and fugitives, says a report released Sunday.
Top 7 Income Sources in America
While wages dominate, the idea that the middle class doesn't earn substantial returns from capital is false, the Tax Foundation says.
3 Misconceptions About Asset Protection
You can protect clients' assets from lawsuits and creditors without hidden accounts, secret agreements or fraudulent transfers. But advance planning is critical.
Obama, House Republicans Jockey on Charity Tax Breaks
The GOP wants to make three temporary tax breaks for donations permanent; Obama wants to cap the charitable tax deduction for high earners.
Obama Budget’s Retirement Savings Cap Targets Wealthy
The retirement savings cap is a relatively small gambit in the budget’s larger effort to raise revenues but is seen as an attack.
IRS International Data Exchange Service Open for FATCA Filings
The IRS announced in January that IDES is open for enrollment, and that financial institutions and host country tax authorities can use it to securely send reports on financial accounts held by Americans to the IRS under FATCA.
Tax Season 2014: Your Quick List of Best Practices
The 2014 tax season is now here, and this could be the busiest time of year for many advisors.
Paid Tax Preparers Should Be Regulated, Consumer Groups Say
More than half of all tax returns are prepared by paid tax preparers, only 40% of whom are subject to mandatory professional standards, coalition says.
Charities Get a Carve-Out in Obama’s SOTU Tax Proposals
Obama's plan to close the "trust fund loophole" for capital gains taxes on inherited assets has a loophole of its own.