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Popular Tax Breaks Extended for 2014

On Dec. 16, the Senate passed the Tax Increase Prevention Act of 2014 (TIPA), which the House had passed on Dec. 3. President Obama has indicated that he will sign the bill as soon as it reaches his desk. TIPA is the latest “extender” package, a stopgap measure that retroactively extends through Dec. 31, 2014, certain tax relief provisions that expired at the end of 2013. It was drafted after the collapse of negotiations over a bill that would have made some of the provisions permanent, while extending others for two years. Continue reading

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IRS announces January 31 start date for 2014 filing season

From IRS.gov: WASHINGTON — The Internal Revenue Service announced plans to open the 2014 filing season on Jan. 31.The new opening date for individuals to file their 2013 tax returns will allow the IRS adequate time to program and test … Continue reading

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