With the resolution of the so-called “fiscal cliff” by the enactment of the American Taxpayer Relief Act of 2012 (the “2012 Tax Act”), there have been changes to the tax laws that were to apply to individuals and other taxpayers beginning in 2013. This memorandum summarizes changes to the Internal Revenue Code of 1986, as amended (the “Code”), that were scheduled to apply in 2013 as modified by the changes enacted as part of the 2012 Tax Act, which are generally effective as of January 1, 2013. This memorandum also summarizes new taxes that take effect in 2013. Additional tax law changes may be proposed in further fiscal discussions during the year.
View full memo, "Federal Income Tax Changes for 2013"