On Thursday, Thomson Reuters released a special report, Retrospective on Key Tax Developments in 2014, which provides a thorough briefing of key tax developments in 2014, including the tax extender provisions as well as many of the rates, dollar caps, and other key figures that changed over the course of the year.
“Although 2014 was a relatively quiet year in terms of new legislation, there were nonetheless many important developments that practitioners need to be aware of,” said Catherine Murray, tax analyst with the Tax & Accounting business of Thomson Reuters, in a statement. “These developments can have a significant impact on 2014 tax return preparation as well as tax planning for 2015 and later years.”
The report highlights milestone tax developments over the past year, including clarification on the:
- Affordable Care Act (ACA)
- Foreign Account Tax Compliance Act (FATCA)
- Federal tax treatment of married same-sex couples
- 3.8% surtax on investment income and gains
- 0.9% additional Medicare tax
- One-IRA-rollover-a-year rule
- Validity of regulations on the ACA premium tax credit
The full report is available for download, for free, here.