Tag: IRS
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New IRS Regulations Enable Tax Credit Transfers under IRA
The U.S. Department of Treasury and Internal Revenue Service (IRS) have announced final regulations that reshape the landscape of tax credit transfers. This change,...
IRS Extends RMD Tax Relief for 2024
IRS Extends RMD Tax Relief for 2024: The IRS has some good news for beneficiaries who inherited individual retirement accounts (IRAs). In Notice 2024-35,...
Need More Time to File? Here’s How to Get a Free Tax Extension
IRS Allows to File a Free Tax Extension: The April 15th tax filing deadline is approaching, but don't panic if you need more time....
Charitable Remainder Annuity Trusts (CRATs): Win-Win for Charity, But Not a Loophole for Capital Gains
Donating to charity while securing your income sounds fantastic, right? Charitable Remainder Annuity Trusts (CRATs) were designed for exactly that purpose. You contribute assets,...
1% Stock Buyback Tax: New IRS Guidance for CorporationsÂ
New IRS Rules Clarify 1% Tax on Corporate Stock Buybacks: The Internal Revenue Service (IRS) recently issued proposed regulations clarifying the application of...