The current tax reform debate in Washington makes tax planning critical as year end approaches.
As discussion around tax changes increases on Capitol Hill, proposals point to a reduction in tax preference items and tax loopholes.
A provision to make tax-free donations to charity from an IRA, tax deductions for certain college expenses, and dozens of other tax breaks known as “tax extenders” could be renewed if Congress acts before the end of the current session. In the next few weeks, Congress must decide whether to restore some or all of
Limiting or reducing deductions were among the highlights of the most recent tax reform proposal on Capitol Hill, catapulting tax-preference items to the forefront of the debate once again. Although unlikely to proceed as a formal piece of legislation, the Tax Reform Act of 2014 — released last week by House Ways and Means Committee