A Surprise Refund Opportunity? Millions of Taxpayers May Be Owed COVID-Era Penalty Refunds

Why December 31,2026 is a Make-or-Break Date for Original QOF Investors

If you invested in a Qualified Opportunity Fund (QOF) using deferred capital gains, pay attention: the law requires that deferred gains be included in income no later than December 31, 2026. That deadline is real, unavoidable unless Congress or the IRS provides relief, and it can mean a large, unexpected tax bill even if your fund hasn’t paid you a dime.

Foreign Earned Income Exclusion: Navigating the Opportunities

The Foreign Earned Income Exclusion (FEIE) is a valuable tax provision for U.S. citizens and resident aliens living and working abroad. It allows eligible taxpayers to exclude a certain amount of foreign earned income and housing costs from U.S. taxation.

Unlocking Tax Savings: Navigating the Complex World of Foreign Travel Deductions

When engaging in business overseas, it's crucial to understand how travel expenses are treated under U.S. tax law. Unlike domestic travel, where transportation costs are often fully deductible if the trip is "primarily" for business, foreign travel requires a more granular day-by-day calculation to account for personal time.

Keeping It in the Family: Tax Risks and Benefits of Home Title Transfers

A frequently encountered issue is when an elderly parent turns the title of his or her home over to a child or other beneficiary and continues to reside in the home, thinking that it is the correct thing to do, but without considering the tax repercussions.

Struggling to Pay Your Taxes? Here Are Solutions and Guidance

Individuals have many options when they cannot pay their tax liability, including setting up an IRS payment plan, tapping a retirement plan, acquiring a home equity loan and borrowing money from a friend or relative. Each option has negative implications, and some have substantial fees, penalties and/or interest.