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Wednesday, December 2, 2015

IRS Updates for Approaching Tax Season

Be prepared for next tax year!
All together, the IRS posted more than 40 updates in 2015.

*These are adjustments to be used for 2015 taxes, to be prepared in 2016, not what you would use to prepare your taxes now from the year that just ended.*

If you want to get a headstart for next year, this is a very good summary. If some of the changes look familiar, it's because they match up with predictions by Bloomberg BNA earlier this year! All taxpayers will see a slight bump in their standard deduction, and the personal exemption amount also goes up.

See upcoming changes in:

  • Tax brackets
  • Standard deductions
  • Itemized deductions
  • Personal exemptions

And also:

  • Family-related tax item updates
  • Education-related updates
  • Healthcare and fringe benefit updates
  • Federal estate and gift tax updates
  • Retirement updates, and more....
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Call GBC Income Tax Services today at 678-366-9232 for all your tax and IRS needs!
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