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TOPICS / TAX

Individual income taxation

President’s budget proposes many tax changes

In addition to a proposed spending blueprint for the government, President Barack Obama’s proposed FY 2017 federal budget contains a wide variety of tax law changes that would affect individuals and businesses.

Congress extends expired tax provisions and makes some permanent

Some tax breaks are extended for two years, some for five, and a few are made permanent in Congress’s annual year-end extenders legislation. (Plus: An updated version of the JofA’s annual quick guide
PDF that includes changes related to the legislation.)

Controversial charitable donation rules withdrawn

The IRS announced that it is withdrawing proposed regulations released last September that would have allowed charities to file information returns with the IRS and donors instead of providing contemporaneous written acknowledgments of charitable donations.

Filing season quick guide—tax year 2015

Download our annual quick guide, a PDF that contains dollar thresholds, tax tables, standard amounts, credits, and deductions to keep at your fingertips during tax season.

Tax season launches

Despite another year of uncertainty about congressional passage of retroactive “extender” provisions, CPAs’ tax season can benefit from these tips and resources.

Mortgage debt limit applied per taxpayer

The debt limitation for the home mortgage interest deduction should be calculated on a per-taxpayer basis rather than a per-residence basis, the Ninth Circuit holds.

2016 Social Security wage base is released

The good news for workers is that there will also be no increase in the amount of wages subject to Social Security taxes (old age, survivor, and disability insurance).

SPONSORED REPORT

Agentic accounting has arrived: What’s hype and what’s real?

Artificial intelligence (AI) is moving beyond chatbots and into accounting workflows. A new generation of agentic AI tools can plan, execute, and adapt as they complete tasks, raising expectations for what automation can do inside firms and finance departments. What can agentic AI realistically do today and what challenges are there in its implementation? Find out in this Journal of Accountancy sponsored report.

From The Tax Adviser

August 31, 2026

What today’s clients expect from their CPA and how firms are responding

August 31, 2026

2026 tax software survey

August 31, 2026

A risk framework for AI use in tax administration and preparation

July 31, 2026

Current developments in S corporations