TaxBrief Summer 2023:
Top Tax Changes You Need to Know

Understanding tax changes can be tough, particularly with so many updates happening in 2023. That’s why we’ve put together the Summer 2023 “TaxBrief”. This user-friendly guide simplifies the tax news you need to know.

Unpacking the 2023 Tax Updates

In the newsletter, we tackle essential updates like the IRS starting to collect unpaid taxes again. We also delve into the implications of the IRS receiving more money for enforcing tax rules. Additionally, we shed light on the threat of new technologies like AI making tax scams harder to spot.

We’ve included helpful guidance for those who filed their taxes early during the pandemic. We explain the new tax benefits for buying environmentally friendly cars and making your home more energy-efficient. There’s also an overview of changes in the rules for retirement savings.

Our guide clarifies the new tax treatment of digital items like NFTs. We’ve outlined new rules about who owns what in companies. And there’s some great news about reduced penalties for not reporting foreign bank accounts.

Remember, if anything is unclear or you have questions, we’re here to help!

Here are the topics covered:
  • IRS Resumption of Collection Activities
  • Increased IRS Enforcement Funding
  • AI and Tax Scams
  • Guidance for Early Tax Filers
  • Clean Vehicle Tax Credits
  • Energy-Efficient Home Improvement Tax Credits
  • Changes in Retirement Savings Rules
  • Tax Treatment of NFTs
  • New Rules on Company Ownership Reporting
  • Reduced Penalties for Not Reporting Foreign Bank Accounts
Picture of Amanda Beck-Haney

Amanda Beck-Haney

Amanda Beck-Haney is an Enrolled Agent with a passion for helping businesses of all sizes succeed. She is the owner of Monument Financial Services, Inc.