This session will review the key changes (both statutory and administrative) to tax law for 2023 that impact individuals and small businesses. Attention will be placed on the provisions of the Inflation Reduction Act with emphasis on the new energy and EV credits; provisions of the Secure Act 2.0; significant Appeals Court and lower court tax cases; and various IRS Notices and guidance. Changes involving the 2023 IRS tax forms will be reviewed.

Learning Objectives:

• Note the changes to 2023 Form 1040 and associated Schedules.
• Identify many of the significant changes legislated by Congress in the Inflation Reduction Act (IRA) and the Secure Act 2.0.
• Understand the significant court decisions in 2023 and their impact on taxpayer representation.