Category: Tax highlights 2023

The SSA recently released the following updates for 2024 – –  Cost-of-living adjustment (COLA) of 3.2% for both Social Security and Supplemental Security Income (SSI) benefits beginning in January 2024 –  Individual taxable earnings of up to $168,600 annually will be subject to Social Security tax –   retirees receiving Social Security benefits will be able […]

In what he described as “the start of a sweeping, historic effort,” IRS commissioner Danny Werfel announced a plan to focus more tax enforcement efforts on the wealthy and those who abuse the law. While some of the plans are familiar — such as auditing more millionaires — the specificity is new, particularly an announced […]