[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-303364-105":3,"detail-sidebar-cat-1-en-105":80,"doc-detail-303364-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":73,"head_meta":75,"extra_data":77,"updated_unix":79},105,"en","2023-tax-highlights","2023 Tax Highlights","","2023 Tax Highlights summarizes key privacy notice disclosure obligations and outlines controls for protecting non-public personal information, including the need for separate signatures when sharing tax-return copies or financial information with financial institutions. It provides a tax form checklist covering common IRS statements and a quick view of 2023 standard deduction amounts by filing status. It also covers itemized deduction documentation, charitable substantiation rules, IRA and RMD age-related changes, and residential energy credit eligibility and calculation basics.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/general/","General",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/2023-tax-highlights/303364/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/2023-tax-highlights/303364.png","ImageObject",442,249,{"name":42,"@type":43},"Aria","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-09-23","2026-09-19",true,{"@type":52,"interactionType":53,"userInteractionCount":22},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"What privacy notice and disclosure steps are required for 2023?","Question",{"text":62,"@type":63},"Clients’ non-public personal information is not disclosed to others except as instructed by the client or as required by law. Separate signatures are required for requests to send copies of tax returns or other financial information to financial institutions.","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"Which tax forms are included in the 2023 tax form checklist?",{"text":67,"@type":63},"The checklist includes common statements such as W-2, multiple 1099 variants (e.g., 1099-MISC, 1099-INT, 1099-DIV, 1099-R), 1095-A, 1098 series forms (e.g., 1098-T, mortgage interest), and K-1 for estate/trust income.",{"name":69,"@type":60,"acceptedAnswer":70},"What changed for IRA contributions and required minimum distributions (RMDs) in 2023?",{"text":71,"@type":63},"Taxpayers over age 70 1/2 may contribute to a traditional IRA using earned income. For traditional IRAs and other retirement plans, RMDs are generally not required until age 73; those previously subject to RMDs must continue until they reach age 73.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},303364,1790180763,{"code":4,"msg":81,"data":82},"success",[83,88,93,98,103,108,113,118,123],{"id":84,"doc_module":22,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},11,"Presentations",90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":110,"show_sort_weight":111,"slug":112},17,"Forms",40,"forms",{"id":114,"doc_module":22,"doc_module_name":25,"category_name":115,"show_sort_weight":116,"slug":117},18,"Letters",30,"letters",{"id":119,"doc_module":22,"doc_module_name":25,"category_name":120,"show_sort_weight":121,"slug":122},21,"Paper Templates",5,"papers-templates",{"id":124,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":4,"slug":125},158,"general-158",{"code":4,"msg":81,"data":127},{"doc_id":78,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":124,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":30,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":26,"language":135,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":12,"update_tm":139,"read_time":22},2336464648322,"https://ap-avatar.wpscdn.com/avatar/2200025388227c56fec?_k=1778556882303663488","2023 Tax Highlights  \nAs required by law, below is the annual disclosure of our privacy notice statement:  \nWe do not disclose any non-public personal information about our clients or former clients to anyone except as instructed by such clients, or as required by law. We are now required to obtain separate signatures for requests to send a copy of your tax return or other financial information to a financial institution such as for refinancing your mortgage. We will have a form available for such requests. We will maintain physical, electronic and procedural safeguards to  \nprotect your non-public personal information.  \nTax Form Checklist  \n  W-2 Wage Statement   1099-SA HSA Distributions  \n  1095-A Marketplace Insurance   1099-Misc Other Income  \n  1098-T Tuition Insurance   1099 NEC Non-Employee Comp  \n  1099-R Pension/IRA Statement   1099-C Debt Forgiveness  \n  1099-SSA Social Security Statement   1099-K Credit Card Income  \n  1099-INT Interest Income   1098 Mortgage Interest Statement  \n  1099-DIV Dividend Income   1099-A Foreclosure  \n  1099-B Stock/Security Sales   K-1 Estate/Trust Income  \n2023 Standard Deduction Amounts  \nFiling Status Additional Amounts for Blind or Age 65+  \nMarried Filing Joint Head of Household Single  \nMarried Filing Separate  \n$27,700  \n$20,800  \n$13,850  \n$13,850  \nMarried Taxpayers Single Taxpayers  \n$1,500  \n$1,850  \nItemized Deductions  \nEven though fewer taxpayers are eligible to itemize deductions, please continue to bring in property tax bills, mortgage interest statements, charitable contribution documentation, and qualified medical expenses. Many individuals who do not itemize on the federal return can benefit from these deductions on the Wisconsin return.  \nCharitable Contribution Substantiation  \nStrict substantiation requirements remain for charitable contribution deductions. Cash donations must be able to be substantiated by a bank record, and individual donations over $250.00 must be substantiated by a letter from the charitable organization. Taxpayers are responsible for valuing their non-cash donations.  \nIRA Contribution Age Change  \nTaxpayers over the age of 70 1/2 can choose to contribute some or all of their compensation to a traditional individual retirement arrangement (IRA) as long as they have earned income.  \nRMD Age Change  \nIndividuals with traditional IRAs, 401(k) plans, and other retirement plans are not required to take required minimum distributions (RMDs) from their retirement plans until they reach age 73. Those who were required to take RMDs before the age changed must continue to take their RMDs, even if not yet age 73.  \nResidential Energy Credits  \nThe Energy Efficient Home Improvement Credit (Energy Credit) increased for years beginning in 2023 with an annual credit of up to $1,200. The credit is 30% of the amount paid by the taxpayer for certain qualified expenditures.  \nCommon examples include exterior doors, exterior windows and skylights, and Insulation materials. Central air conditioners, water heaters and furnaces also qualify if certain efficiency tests are met.","cbCaidKCH2xHU8I1","https://ap.wps.com/l/cbCaidKCH2xHU8I1","pdf",355709,"English","# Tax Highlights\n## Privacy Notice and Information Sharing\n## Tax Form Checklist\n## Standard Deduction Amounts\n## Itemized Deductions and Charitable Substantiation\n## IRA and RMD Age Changes\n## Residential Energy Credits","[{\"question\":\"What privacy notice and disclosure steps are required for 2023?\",\"answer\":\"Clients’ non-public personal information is not disclosed to others except as instructed by the client or as required by law. Separate signatures are required for requests to send copies of tax returns or other financial information to financial institutions.\"},{\"question\":\"Which tax forms are included in the 2023 tax form checklist?\",\"answer\":\"The checklist includes common statements such as W-2, multiple 1099 variants (e.g., 1099-MISC, 1099-INT, 1099-DIV, 1099-R), 1095-A, 1098 series forms (e.g., 1098-T, mortgage interest), and K-1 for estate/trust income.\"},{\"question\":\"What changed for IRA contributions and required minimum distributions (RMDs) in 2023?\",\"answer\":\"Taxpayers over age 70 1/2 may contribute to a traditional IRA using earned income. For traditional IRAs and other retirement plans, RMDs are generally not required until age 73; those previously subject to RMDs must continue until they reach age 73.\"}]","2023 Tax Highlights | PDF",1789802506]