Taxes

Insurance bad faith lawsuit recoveries can be significant, dwarfing the underlying dispute. By definition, a bad faith case comes out of an underlying dispute or accident. That duality can make the tax treatment of insurance bad faith recoveries especially tricky. However, it can also invite tax planning. If the underlying incident was a physical injury

This is among the worst Social Security horror stories I’ve encountered in years of writing about Social Security’s financial abuse of everyday Americans. Everyone thinks Social Security is our country’s finest public policy with superbly dedicated and fully trained staff. That ‘s until they get a bill in the mail, often massive, to repay Social

Professor Samuel Brunson of Loyola University Chicago discusses social media tax scams highlighted in the IRS’s 2023 “Dirty Dozen” list of scams and how to spot this misinformation. 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 Today International.

Gen Z and millennials are living clean, and apparently it’s not good for state coffers. In March, Bloomberg reported that the U.K. government has missed out on billions of pounds in revenue from alcohol and tobacco sin taxes over the years because young Brits are choosing to smoke and imbibe less than previous generations. The

Living and investing overseas can create advantages when it comes to your U.S. tax burden. To benefit from those advantages and avoid costly mistakes, you need to understand how U.S. tax rules apply to expat Americans. Here’s an overview of things to know to help you stay compliant with the IRS and also capitalize on