The Tax Increase Prevention Act of 2014 was signed by President Obama on December 19th, 2014 which extended a number of individual, business, and energy credits.  The Act also provided for the establishment of tax-favored accounts that can be used to save for disability related expenses otherwise known as Achieving a Better Life Experience accounts or ABLE accounts.

This IRS will be enforcing for the first time in 2014 its individual mandate under the Affordable Care Act which sets forth requirements for taxpayers to hold qualifying health insurance.  Please call our offices to discuss today!