Tax Updates

Highlights of Important 2023 Federal Tax Updates

For the 2023 tax year, several new federal tax laws and adjustments went into effect. Here are some key changes: 1. Tax Inflation Adjustments: The IRS announced annual inflation adjustments for more than 60 tax provisions, including tax rate schedules and other tax changes. (Refer to: https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2023) 2. Major Policy Change by IRS: A significant […]

Important Tax Updates for 2015-2016

This has been a busy time for both the Internal Revenue Service and Congress. On December 18th Congress passed, and President Obama signed the Protecting Americans from Tax Hikes (PATH) Act of 2015. The IRS has been busy with the Affordable Care Act and the employer mandate, new FATCA regulations, and legislation to regulate the […]