The SECURE Act 2.0, enacted at the end of 2022, created a new type of qualified charitable distribution (QCD) that generally is being called the Legacy IRA. As I’ve said before, QCDs are the best way for most people age 70½ or older to make charitable contributions. When you’re 70½…

Trusts are common, but there are numerous variations, and there is still considerable confusion about what is legal and what is not. There are at least two primary types. One type is a common to estate planning, and probably just about everyone should have one. You don’t want to die…

For 40 years, PNC has calculated the prices of the 12 gifts from the classic holiday song, “The Twelve Days of Christmas.” This year, increases in the annual Christmas Price Index® (PNC CPI) are primarily driven by labor costs, mirroring the U.S. economy. CPI The PNC CPI is a light-hearted…

The Financial Crimes Enforcement Network—more commonly known as FinCEN—in close coordination with the Internal Revenue Service Criminal Investigation—sometimes referred to as CI or IRS-CI—issued an alert to financial institutions on fraud schemes related to the COVID-19 Employee Retention Credit (ERC). The alert provides an overview of some indicators associated with…

Christmas came early (again) this year for many taxpayers and tax professionals. The IRS has announced that it would (again) delay the new $600 Form 1099-K reporting threshold for third-party settlement organizations. Here’s what you need to know. The IRS will treat 2023 as an additional transition year. If that…

“Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist,” John Maynard Keynes famously observed. Apparently, Charles G. Moore and Kathleen F. Moore are in thrall to a certain Columbia University economist from the early 20th century. Edwin R.A.…

The Senate has passed a stop-gap funding bill to avert a government shutdown before the deadline. The bill is identical to the one that was recently passed in the House. It extends funding for government services at current spending levels, with no spending cuts, including those targeted to the IRS.…

WeWork’s collapse shows how working from home is changing commercial real estate and compounding the sector’s economic challenges. Once hailed as the future of office development, the company recently filed for bankruptcy. WeWork was born and grew after the Great Recession, opening its first Manhattan location in 2011. The company…

Sanessa Griffiths of Skadden, Arps, Slate, Meagher & Flom LLP discusses the lack of diversity in the tax bar and recommends ways to fix it. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes…

First, the tax authorities targeted soda, plastics, and hazardous chemicals with excise taxes. Now they’re coming for fast-fashion companies like Shein and Temu. Imposing special taxes on mass-produced $16 party dresses? That seems like a lot of effort for some low-hanging fashion fruit. But the fruit may not be as…