
The Tax Blotter – March 2023
Many of the changes for individuals in the Tax Cuts and Jobs Act (TCJA) are temporary and are scheduled to expire after 2025. But some are permanent provisions of the tax code.
Many of the changes for individuals in the Tax Cuts and Jobs Act (TCJA) are temporary and are scheduled to expire after 2025. But some are permanent provisions of the tax code.
Those who are not ready for this potentially seismic shift should speak to their advisors as soon as possible in order to take advantage of planning opportunities.
The new deadline of Oct. 16 applies to California and federal individual and business tax returns and payments.
The Inflation Reduction Act reintroduces the corporate AMT, but with major changes, and it only applies to certain corporations, but a company only needs to pass the book income test once to be subject to AMT.