2016 Year-End Strategies: Straddling Two Years Of Significant Change

Implementing tax strategies at year-end always presents unique challenges and opportunities. The impact of recent tax legislation and significant IRS rule changes during 2016 raises the stakes. The Protecting Americans from Tax Hikes Act (PATH Act), passed in late 2015, changed —both dramatically and through some nuanced revisions— the dynamics of planning for the expiration of various tax breaks... and the permanence of others. The IRS for its part has been busy creating safe-harbor benefits under the "repair regulations," clarifying the definition of marriage for tax purposes, fine-tuning Affordable Care Act requirements, and more, all of which immediately impact the 2016 tax year.

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