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Tag: Congress

February 17, 2023

Reading the Tea Leaves: Potential Tax Legislation in the New Congress

The 2022 mid-term election has shifted the scales in Washington, D.C., with the Democrats no longer controlling both houses of Congress. While it remains to be seen if — and when — any tax-related legislation can muster the requisite bipartisan support, a review of certain provisions in existing laws may provide an indication of the many areas ripe for action in the next two years. Retirement catch-ups at risk The SECURE 2.0 Act, enacted at the tail end of 2022,… Read more ›

September 20, 2022

How Will Inflation Affect Your 2023 Tax Bill?

Inflation has been surging this year. The July 2022 consumer price index (CPI) was up 8.5% year over year, according to the latest data from the U.S. Bureau of Labor Statistics. The rate of inflation is expected to stay high for at least the rest of the year. Many taxpayers are understandably concerned about how elevated inflation rates will impact their 2023 tax situation. When planning for the rest of your 2022 tax year, it’s important to understand what tax… Read more ›