The intersection of taxes and bankruptcy present interesting issues. A recent bankruptcy case demonstrated this by considering whether Earned Income Tax Credit refunds can be exempt from creditors in a bankruptcy proceeding. The case shows how the answer can depend on where you live. – Forbes – Taxes
The SECURE 2.0 Act of 2022, which was included in the $1.7 trillion omnibus spending bill signed by President Biden on December 29, 2022, has a small gift… – Forbes – Taxes
When it comes to the IRS it may be best to apply a version of Hanlon’s Razor that substitutes “bureaucracy” for “stupidity.” – Forbes – Taxes
In 2015 and 2016 he had significantly higher dividend income ($718,317 in 2015 and 292,068 in 2016), which might suggest that he had at least $50 million or more in stocks at the start of 2015 but sold most of these in 2015 and 2016. – Forbes – Taxes
As corporate finance professionals brace for a fresh set of twists and turns, 2023 is looking like it’s going to be just as disruptive as each of the previous three years. C-suites will have to navigate some sharp turns on the road ahead, and vigilance will be the silver bullet. – Forbes – Taxes
Tax Notes reporters recap some of the weirdest stories they encountered in 2022, from the tax troubles of reality stars to a fight over a rather large tax bill for Christmas trees. – Forbes – Taxes
Some cities may be attracting affluent, educated people working from home, but that’s not a novel strategy, or one that others can easily copy. – Forbes – Taxes
My partner often remarks that I should find more interesting things to write about. – Forbes – Channel Feed
Congress has passed legislation permitting later distributions from IRAs – Forbes – Taxes
Tax Notes State recognizes Sharonne Bonardi, executive director of the Federation of Tax Administrators, as its person of the year. – Forbes – Taxes
The Tax Court agreed that the IRS valuation of the easement at $470,000 was better than the $5.1 million deduction that the Brookses had claimed for an easement on a part of the property that they had acquired a year before donation for $1.35 million. – Forbes – Taxes
The “Santa Shortage” has helped bring more men of color into portraying the holiday role. But women—almost half the workforce—are excluded from the role. – Forbes – Taxes