Thomson Reuters has released a special retrospective report focused on the key tax developments that occurred during 2013, which included a major federal tax law as well as many significant new cases, regulations, rulings, and revenue procedures. The report alerts tax professionals to these important developments and also highlights many of the rates, dollar caps, and other figures that changed over the course of the year.
“While most tax practitioners are aware of the many tax changes that are effective for the 2013 tax year, many taxpayers may not be,” said Tom Long, a senior tax analyst at Thomson Reuters. “Effective in 2013, there is a higher payroll tax and a surtax on the unearned income of higher-income individuals; higher tax rates also apply to ordinary income, while at the same time limitations are imposed on the use of the personal exemption and itemized deductions.”
Long also noted that “In 2013, we saw a landmark Supreme Court decision that fundamentally altered the tax treatment of same-sex married couples.”
The special report notes milestone events for the year such as:
With so many tax developments, tax and accounting professionals will benefit from a comprehensive, singular report that recaps the major 2013 tax changes. The report is available for download at no cost.
The report is an example of the practical, insightful information available on Thomson Reuters Checkpoint, which provides research, news, analysis, and productivity tools to tax, audit, accounting, legal, trade, and finance professionals.
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