Leaders of the Senate Finance Committee have formed five bipartisan working groups with the goal of analyzing the tax code and developing policy recommendations for comprehensive tax reform.

The federal unemployment tax rate for employers increased for the fourth year for 2014 due to an automatic repayment system for states that haven’t repaid their debts.

Just before Christmas, Congress finally passed the “tax extenders” for 2014. These “extenders” refer to a set of about 60 tax incentives that are scheduled to lapse after a certain number of years. We have seen Congress act at the last minute three times in the past: October 2008, December 2010 and January 2013.

We are going to take a break from tax planning this week. Instead, the family of Bradstreet & Company would like to wish you and your family the most joyous holiday season and best wishes for 2015.

When you receive your 1099s and 1098s in the upcoming weeks the forms may have a different look. They may also contain some additional information you will need to complete your 2014 federal tax return.

The National Conference of CPA Practitioners is warning that the complexities of the Affordable Care Act may negatively affect millions of taxpayers in the upcoming tax season.