The White House announced on July 2, 2013, that it would delay
implementation of the health insurance mandate for mid-sized and large
as well as reporting requirements for these same employers and
health insurers until 2015.
In separate blog postings, the White House
(www.whitehouse.gov) and the Department of the Treasury
(www.treasury.gov) indicated that the delays
are in response to employer concerns regarding the complexity of
the reporting requirements and health insurance mandate as prescribed by
Care Act. Our Client Alert highlights these announcements.
Overview of key numbers from tax rates, to estate taxes, this has it all.
Due to the changes in the tax law prompted by the recently enacted American Taxpayer Relief Act of 2012 (ATRA), the IRS has announced it will begin accepting 2012 tax filings on January 30. The IRS had anticipated a January 22 start date. However, forms and processes must be updated in response to the ATRA, necessitating the delay. And filing paper returns won't speed up the process either. The IRS suggests filers use e-file with direct deposit for faster tax refunds.
Most households may begin filing tax returns on January 30. However, some filers may not have their returns processed until late February or March because of the need for more extensive form and processing system changes. Filers claiming residential energy credits, depreciation of property, or general business credits may not be able to file until a later date to be announced by the IRS. A full listing of the forms that won't be accepted until later is available on the IRS website, www.irs.gov.