2015TAXPreview

As we progress further into 2015, here are the five tax stories, trends and events CBIZ MHM is keeping a close eye on this year.

ACA

5 Stories to watch:1. The Affordable Care Act

The individual shared responsibility penalty on

individuals without adequate health coverage

(or anexemption) will be reported on 2014 tax returns for

the first time.

2. CongressionalAction

Not only did Congress fail to pass comprehensive tax reform in 2014, but it also waited until the end

of the legislative session to pass the tax extenders bill.

4. Scam CallsLast August, the Treasury Inspector General for Tax

Administration (TIGTA) reported that it had

received 90,000 complaints through its

telephone hotline. Of those complaints, approximately 1,100 victims had lost an

estimated $5 million from those scams.

3. International Tax Transparency

Corporate inversions, actions taken by Burger

King and other U.S. companies to merge with foreign companies as a way to reduce corporate

taxes, received considerable attention in the media and on Capitol Hill in 2014.

5. Budget Constraints Affect IRS

The 2014 year-end spending deal passed by

Congress dealt $346 million in budget cuts

to the IRS. The budget deal affects an already

strapped IRS

For more information:visit www.cbiz.com