Cancellation of Debt of a Decedent
If a debt of a taxpayer is cancelled after the death of the taxpayer, the cancellation of debt (COD) income is income to the estate or th...
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The Tax Professionals Blog · 446 articles
Taxation of Canadian Social Security
A benefit under Canadian social security legislation paid to a resident of the U.S. is taxable in the U.S. as though it were a benefit un...
Read moreDeceased Taxpayer: Who Signs the Tax Return?
If a taxpayer died before filing a return, the taxpayer's spouse or personal representative can file and sign a return for the taxpayer. ...
Read moreCharitable Giving Through Donor-Advised Funds
Contribution to a donor advised fund is a way to warehouse funds in a year in which the donor has an unusually high income (and can benef...
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Overnight Analysis of the GOP Tax Reform Bill
The GOP has released its tax reform structure, without a lot of detail (it is being left to Congress to determine), and as we all know th...
Read moreTax Consequences of Noncash Prizes
Every so often tax practitioners will encounter a client who has won a noncash prize or vacation trip from a game show, or won a car or e...
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