Year-End Tax Letter 2023

We are pleased to provide you with this year-end letter outlining important guidelines for compliance with federal and state rules of taxation and reporting requirements. The letter contains information regarding some of the more significant changes to the tax code from legislation enacted in the last few years.

This letter also contains 2023 and 2024 payroll tax requirements, employee benefits reporting, informational return filing requirements, and other information for tax planning. Official federal and state forms, publications, and other information can be obtained from the specific agencies’ websites.

Please note that this letter is designed to provide an overview of selected tax rules that we believe to be of interest to our clients. Tax rules are very complex and can be subject to interpretation. There are many special rules and exceptions that have not been addressed herein. In addition, the contents of this letter are subject to change as new tax laws are passed.

For additional tax news and insights, please visit our website: https://tonneson.com/news-insights