Progress and Updates in Tax Laws

The latest Kiplinger Tax Letter discusses progress that is being made by the Senate’s top two tax writers, Ron Wyden (D-OR) and Orrin Hatch (R-UT).  They want to make it more difficult for those who try to commit fraud via a filer’s identity by having taxpayers request a password to use before filing.  Refund theft would be treated as a felony. 

Another proposal includes tax-deferred savings accounts for the disabled, similar to 529 plans.

The Kiplinger Letter expands on these topics as well:

• Inversions
• Benefit plans
• IRAs
• Exempt groups
• Business taxes
• Donations
• Estate taxes
• State taxes
• Filing reminders
• Real estate
• Preparers
• Enforcement

Click here to read the entire PDF letter.