Key tax changes for 2014 that you should take notice of now

Each year when we prepare to file our tax returns, we must deal with changes in the U.S. Tax Code.  Just when we adapt to the new rules they change again making it frustrating for tax preparers and taxpayers alike.  Even though you are working on your 2013 tax returns, several key changes to the tax code for 2014 may affect your tax return next year and are worth taking note of now.  For example, the penalty for failing to comply with Obamacare and the new $500 carry-over for health care FSAs takes effect with the 2014 tax year.

For more read, “11 key tax changes for 2014.”