2014 Tax Update

By Philip J. Siana, Joseph G. Dolan, Deirdre R. Wheatley-Liss, Mary B. Goldhirsch and Matthew C. Mills

Although taxpayers have been spared a government shutdown this year, extensive changes to the tax laws will again delay the IRS's acceptance of income tax returns that will be filed. Before looking too far ahead, however, taxpayers would be remiss to not consider potential planning opportunities and pitfalls before ringing in the new year.