What's new for 2014!

1. Tax Topic
What’s New for 2014
A Roundup of Tax Changes Effective This Year

2. What’s New in 2014 - Individual
• Individuals not carrying health insurance face a
penalty.
• Refundable tax credit for low- or moderate-income
families buying certain health insurance.
• Final regs clarifying 3.8% surtax on investment
income and gains go into effect.

3. What’s New in 2014 - Business
• Capitalization rules in final regs go into effect.
• Reduced total assets threshold for Schedule UTP.
• Lower standard mileage allowance rate.
• Final regs go into effect allowing agents to handle
FUTA for home care service employers.

4. What’s New in 2014 - Business
• Beginning of phased broker reporting of debt
instruments and options.
• Revised rules for tips and service charges go into
effect.
• Increased fees for entering into a regular
installment agreement apply.

5. What’s New in 2014 – Business
• “Qualified health plans” may be offered through
cafeteria plans by “qualified employers.”
• Excise tax on health insurance providers.

6. For more information, click here

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