The American Institute of CPAs has updated its Total Tax Insights calculator with information from 2013 to help taxpayers gauge the impact of more than 20 different federal, state and local taxes, including a new Medicare surtax that took effect last year, on their own taxes for this year.
“The Total Tax Insights calculator was developed to enable taxpayers to estimate the amount they pay each year for the most common federal, state and local taxes,” said AICPA president and CEO Barry C. Melancon in a statement. “In advance of tax filing season, the calculator has been updated to include the most recent changes in tax law, including changes in federal tax rates and a 3.8 percent Medicare surtax, as well as changes in state and local levies for cable, cell phones, gasoline and groceries, among other expenses.”
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