The latest news from BKR Americas

Important Tax Figures for 2023

Every year, the amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. Here are some tax figures for 2023, compared with 2022, including the estate tax exemption, Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions and more. Good news: Many increases are higher than in past years due to inflation.

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5 Major Tax-Favored Retirement Plan Changes for Individuals under New Law

On December 29, President Biden signed the omnibus spending bill, which includes the long-awaited Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0). Among many other provisions, this new law includes five major taxpayer friendly changes that may help you save for retirement. Here are the details.

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Federal Tax News for Individuals

1. Energy Efficient Home Tax Credit FAQs
2. Two Innocent Spouse Relief Outcomes in Court
3. Whistleblower Qualifies for IRS Award
4. Didn’t File a Tax Return? The IRS May File for You
5. Clean Vehicle Tax Credit List Expands

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Recent Posts

Not-for-Profits given extension for ATO’s new rules
July 9, 2024
Not-for-Profits given extension for ATO’s new rules

In a strategic move to support non-profit organisations (NPOs), the Tax Office has announced an extension of the initial October...

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Tax Bulletin – July 2024
July 1, 2024
Tax Bulletin – July 2024

ATO's 'main residence exemption tips' The main residence exemption needs to be considered in a variety of situations when a...

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Tax Bulletin – June 2024
June 5, 2024
Tax Bulletin – June 2024

ATO's three focus areas this tax time The ATO will be taking a close look this 'tax time' at the...

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Tax Bulletin – May 2024
May 3, 2024
Tax Bulletin – May 2024

Government warns of 'malicious' myGov scammers The Government has urged Australians to be vigilant regarding scammers who target ATO log-in...

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