alert-icon
Only limited material is available in the selected language. All content is available on the global site.
  • Solutions Directory
  • Careers
  • Investors

Wolters Kluwer

Wolters Kluwer is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG.

About Us
  • Who We Are
  • Organization
  • Strategy
  • Newsroom
Insights
  • Artificial Intelligence
  • Future Ready Accountant
  • Future Ready Healthcare
  • Future Ready Lawyer
  • Business Transformation
  • Data Analytics & Reporting
  • Risk & Regulatory Compliance
  • Business Insights Hub
Get Help
  • Contact Us
  • Login
  • eShop & Bookstores
  • Solutions Directory
  • Careers
  • Investors
PrimaryNav Button
Wolters Kluwer Logo
Search Wolters Kluwer
    No Suggestion
    WK logo
    Visit our global site in English, or select an alternative location or language below
    • Americas
    • Europe
    • Asia & Pacific
    Brazil
    Home page:
    • Portuguese
    Canada
    Home page:
    • English
    • French
    Latin America
    Home page:
    • Spanish
    United States
    Home page:
    • English
    Current Page:
    • English
    Belgium
    Home page:
    • Dutch
    • French
    Czech Republic
    Home page:
    • Czech
    Denmark
    Home page:
    • Denmark
    France
    Home page:
    • French
    Germany
    Home page:
    • German
    Hungary
    Home page:
    • Hungarian
    Italy
    Home page:
    • Italian
    Netherlands
    Home page:
    • Dutch
    Norway
    Home page:
    • Norwegian
    Poland
    Home page:
    • Polish
    Portugal
    Home page:
    • Portuguese
    Romania
    Home page:
    • Romanian
    Slovakia
    Home page:
    • Slovak
    Spain
    Home page:
    • Spanish
    Sweden
    Home page:
    • Swedish
    United Kingdom
    Home page:
    • English
    Australia
    Home page:
    • English
    China
    Home page:
    • Simplified Chinese
    Hong Kong
    Home page:
    • English
    India
    Home page:
    • English
    Japan
    Home page:
    • Japanese
    Malaysia
    Home page:
    • English
    New Zealand
    Home page:
    • English
    Philippines
    Home page:
    • English
    Singapore
    Home page:
    • English
    South Korea
    Home page:
    • English
    Taiwan
    Home page:
    • English
    Thailand
    Home page:
    • English
    Vietnam
    Home page:
    • English
    Primary Navigation
    • Health

      Trusted clinical technology and evidence-based solutions that drive effective decision-making and outcomes across healthcare. Specialized in clinical effectiveness, learning, research and safety.

      Health Overview
      Solutions
      • UpToDateIndustry-leading clinical decision support
      • OvidThe world’s most trusted medical research platform
      • UpToDate LexidrugEvidence-based drug referential solutions
      • Simplifi+ Pharmacy ComplianceAn automated suite of compliance solutions to optimize your operations
      View All Solutions
      Roles
      • Hospital technology leaders
      • Nursing leaders
      • Clinical leaders
      • Pharmacy leaders
      • Health plan executives
      • Medical librarians
      View All Roles
      Expert Insights
      • Balancing data privacy in healthcare with the need for care personalization
      • From HIMSS25 Europe: How do clinicians view the advent of real-world evidence?
      • Nurses are evolving. Now it’s time for healthcare leaders to leverage our growth
      • Stay ahead of the 2026 updates for ICD-10 codes
      View All Expert Insights
    • Tax & Accounting

      Enabling tax and accounting professionals and businesses of all sizes drive productivity, navigate change, and deliver better outcomes. With workflows optimized by technology and guided by deep domain expertise, we help organizations grow, manage, and protect their businesses and their client’s businesses.

      Tax & Accounting Overview
      Solutions
      • Tax & Accounting U.S. HubCentral hub for all U.S. solutions
      • CCH Axcess™ SuiteCloud-based tax preparation and compliance, workflow management and audit solution
      • CCH® ProSystem fx®Integrated tax, accounting and audit, and workflow software tools
      • TaxWise®Tax Preparation Software for Tax Preparers
      View All Solutions
      Trending Topics
      • Audit Management
      • Future Ready Accountant
      • Artificial Intelligence (AI) in Tax and Accounting
      • BEPS Pillar Two Compliance
      Expert Insights
      • Tax relief for victims of New Mexico severe storms, flooding, and landslides IRA and HSA deadlines postponed
      • Innovation in action: Jason Marx on agentic AI, firm intelligence, and the global future of tax & accounting
      • Tax relief for victims of Texas severe storms, straight-line winds and flooding: IRA and HSA deadlines postponed
      • Making the switch: How two firms are building smarter workflows with CCH Axcess™
      View All Expert Insights
    • ESG

      Enterprise software to drive financial and sustainability performance, manage risks, meet reporting requirements, improve safety and productivity, and reduce environmental impact.

      ESG Overview
      Solutions
      • CCH TagetikUnified performance management software
      • Corporate TaxDirect and indirect tax software solutions
      • TeamMateAudit and assurance solutions for corporate and public sector organizations
      • Enablon Software solutions for Environment, Health and Safety (EHS), ESG, and Operational Excellence
      View All Solutions
      Expert Insights
      • Strategic Focus: Managing Sustainability Reporting and Carbon Initiatives
      • Verdantix Green Quadrant ESG & Sustainability Reporting Software 2025
      • Energy demands will be a growing concern for AI technology
      • Evolving sustainability strategies in a changing world
      • BARC Topical Survey “The State of ESG & Sustainability Reporting 2025”
      • How BASF elevates sustainability reporting assurance with Enablon
      • Why you need to manage your supply chain risks
      • Excel pitfalls when performing risk assessments
      View All Expert Insights
    • Finance

      Our solutions for regulated financial departments and institutions help customers meet their obligations to external regulators. We specialize in unifying and optimizing processes to deliver a real-time and accurate view of your financial position.

      Finance Overview
      Solutions
      • CCH TagetikUnified performance management software
      • eOriginal eOriginal securely digitizes the lending process from the close to the secondary market
      • Lien SolutionsMarket leader in UCC filing, searches, and lien management
      • OneSumX for Finance, Risk and Regulatory ReportingIntegrated solution suite for finance, risk, regulatory compliance, and reporting
      View All Solutions
      Expert Insights
      • What’s driving the asset liability management (ALM) Resurgence?
      • 2025 BPM Partners Vendor Landscape Matrix Report
      • Expert insights unplugged: Strategic planning
      • Software evaluation checklist: Financial Consolidation
      • Expert insights unplugged: Global Minimum Tax
      • 2025 Dresner Wisdom of Crowds® Enterprise Performance Management (EPM) Market Study
      • Unlock faster, smarter narrative reporting with CCH® Tagetik Intelligent Disclosure
      • Product Demo: Financial Planning & Analysis (FP&A) with CCH Tagetik
      View All Expert Insights
    • Compliance

      Enabling organizations to ensure adherence with ever-changing regulatory obligations, manage risk, increase efficiency, and produce better business outcomes.

      Compliance Overview
      Solutions
      • BizFilingsSmall business incorporation services
      • Compliance Solutions Gain the visibility, agility, and insight required to better satisfy borrowers, secure capital, and navigate regulatory change
      • TeamMateAudit and assurance solutions for corporate and public sector organizations
      • CT CorporationRegistered agent & business license solutions
      View All Solutions
      Trending Topics
      • Economic and interest rate forecasts
      • Future Ready Lawyer
      Expert Insights
      • Tax relief for victims of New Mexico severe storms, flooding, and landslides IRA and HSA deadlines postponed
      • Compare S corporation vs LLC: Differences & benefits
      • S corporation advantages & disadvantages
      • Compliance update: The 2025 amendments to Delaware’s business entity laws
      View All Expert Insights
    • Legal

      Serving legal professionals in law firms, General Counsel offices and corporate legal departments with data-driven decision-making tools. We streamline legal and regulatory research, analysis, and workflows to drive value to organizations, ensuring more transparent, just and safe societies.

      Legal Overview
      Solutions
      • MediRegsEasy-to-use tools, calculators and batch analytics reduce hospital error rates by up to 5%
      • Enterprise Legal ManagementLegal spend and matter management, AI legal bill review, and analytics solutions
      • LegiswayAll-in-one legal management software for legal departments
      • VitalLaw® AIIn-depth legal research and practical analysis enhanced with innovative AI technology
      View All Solutions
      Trending Topics
      • Economic and interest rate forecasts
      • Future Ready Lawyer
      Expert Insights
      • Adapting to Medicare’s Shifting Landscape: Evaluating Regulations, Guidelines, and Medical Necessity Updates
      • Mastering Defined Benefit Calculations: Tips & Tricks for Optimal Outcomes
      • Webinar Navigating US Tariffs: Tips for International Businesses
      • What is an EIN (federal tax ID number)?
      View All Expert Insights
    1. Back to Home >
    2. Back to Expert Insights >
    3. Start 2021 With a Few New Year’s Tax Resolutions
    Take steps to improve your tax situation for the new year.
    Tax & AccountingDecember 30, 2020

    Start 2021 With a Few New Year’s Tax Resolutions

    By: Wolters Kluwer Tax and Accounting

    Wolters Kluwer Tax & Accounting looks at how taxpayers can best prepare for 2021

    2020 is probably a year that many will gladly put behind them and wish for a better 2021. However, rather than just wishing for a better 2021, there are some steps that you can take that might help you make that wish a reality. One of those important areas is your taxes. Unlike many other countries, the U.S. tax system is technically a voluntary compliance system; it is up to each taxpayer to figure out and pay the proper amount of taxes.

    Complexity of tax laws lead to mistakes and missed opportunities

    COVID-related legislation drove a lot of tax changes for 2020 and President-elect Joe Biden has proposed many tax changes for 2021. With tax laws already very complicated it can be easy to make mistakes or miss things. Here are some resolutions to get ahead of taxes in 2021:

    • Organize your tax documents. It is very helpful to collect and organize important tax documents throughout the year so that nothing is overlooked. And keep those organized documents in a safe place as part of your disaster preparedness plan. This year there are also some new documents that may be required related to COVID and those economic stimulus payments
    • Maximize your tax-favored retirement plan contributions. Maximizing your contributions helps grow your retirement fund, it can entitle you to employer matching, and it may help reduce your taxes
    • Start or update an estate or incapacity plan. Even if you are under the federal estate tax exemption limit, that limit could drop in the future, there may be state estate taxes to try to avoid, and you can direct your money where you want it to go
    • Update your W-4 Form. The IRS revised the W-4 form in 2019 to make it easier to calculate the correct withholding, but many employees have not yet completed the revised form
    • Pay close attention to foreign accounts and cryptocurrency transactions. The IRS asks questions about these on the tax return and increasingly has access to third party information to determine if you are disclosing your income properly
    • Look at amending prior years’ tax returns. Recent retroactive tax legislation has provided a lot of potential tax benefit to amending prior years’ tax returns, including the Kiddie Tax, disaster losses, mortgage debt forgiveness, mortgage insurance premiums, energy-efficient home repairs, and, for businesses, net operating loss carrybacks
    • Be a better steward of your financial assets. Always look for income-increasing or tax-saving opportunities such as refinancing a mortgage at a lower interest rate, reallocating investments for higher returns with taxes in mind, or considering Roth IRA contributions or conversions
    • Consider hiring a professional tax expert to help with your taxes. Taxes are very complicated, and experts can help you identify ways to reduce taxes that you may have overlooked

    Expertise is needed in 2021

    Tax expert Mark Luscombe, JD, LL.M, CPA, Principal Federal Tax Analyst at Wolters Kluwer Tax & Accounting, can help explain the merits of these New Year resolutions and other ways to prepare for another year of taxes.

    PLEASE NOTE: The content of this alert has been prepared by Wolters Kluwer Tax & Accounting for general informational purposes only. The information is provided with the understanding that Wolters Kluwer Tax & Accounting is not engaged in rendering legal, accounting, or other professional services.

    Media Contact

    To arrange an interview with Mark Luscombe or other federal and state tax experts from Wolters Kluwer Tax & Accounting on this or any other tax-related topics, please contact Bart Lipinski.

    BART LIPINSKI
    847-267-2225
    [email protected]

    Wolters Kluwer Tax and Accounting
    Wolters Kluwer Tax and Accounting is a leading provider of software solutions and expertise that helps tax, accounting and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed and accuracy. 

    Explore related topics

    Expert insightsFederal Tax News and LegislationState Tax News and LegislationAccounting and Audit News
    Solutions for Tax & Accounting Professionals

    Tax, accounting, workflow, and firm management solutions to help your firm succeed, with the research tools you need to stay informed.

     

    U.S. Tax & Accounting Hub
    How we help
    Professional Tax Software
    Tax & Accounting Research

    Related insights

    Tax relief for victims of New Mexico severe storms, flooding, and landslides IRA and HSA deadlines postponed Tax relief for victims of Texas severe storms, straight-line winds and flooding: IRA and HSA deadlines postponed Tax relief for victims of Missouri severe storms, straight-line winds, tornadoes, and flooding: IRA and HSA deadlines postponed

    Related Insights

    • Tax relief for victims of New Mexico severe storms, flooding, and landslides IRA and HSA deadlines postponed
      Article
      Compliance
      Tax & Accounting
      July 18, 2025

      Tax relief for victims of New Mexico severe storms, flooding, and landslides IRA and HSA deadlines postponed

      Due to destruction caused by severe storms that took place in parts of New Mexico beginning June 23, 2025, the IRS has announced that affected taxpayers will receive tax relief. As a result, certain IRA and HSA deadlines are extended.
      Learn More
    • Tax relief for victims of Texas severe storms, straight-line winds and flooding: IRA and HSA deadlines postponed
      Article
      Compliance
      Tax & Accounting
      July 10, 2025

      Tax relief for victims of Texas severe storms, straight-line winds and flooding: IRA and HSA deadlines postponed

      Due to destruction caused by severe storms that took place in parts of Texas beginning July 2, 2025, the IRS has announced that affected taxpayers will receive tax relief. As a result, certain IRA and HSA deadlines are extended.
      Learn More
    • Tax relief for victims of Missouri severe storms, straight-line winds, tornadoes, and flooding: IRA and HSA deadlines postponed
      Article
      Compliance
      Tax & Accounting
      June 27, 2025

      Tax relief for victims of Missouri severe storms, straight-line winds, tornadoes, and flooding: IRA and HSA deadlines postponed

      Due to destruction caused by severe storms that took place in parts of Missouri beginning May 16, 2025, the IRS has announced that affected taxpayers will receive tax relief. As a result, certain IRA and HSA deadlines are extended.
      Learn More
    • Modernizing payments: The shift from paper checks to digital
      Article
      Tax & Accounting
      June 20, 2025

      Modernizing payments: The shift from paper checks to digital

      The US Treasury's mandate to end paper checks by 9/30/25 will impact all tax preparers. Learn how to best support your clients during this transition.
      Learn More
    Footer Navigation
    • About Wolters Kluwer
    • Strategy
    • Organization
    • Management
    • News & Press Releases
    • Events
    • Solutions Directory
    • Health
    • Tax & Accounting
    • ESG
    • Finance
    • Compliance
    • Legal
    • Expert Insights
    • Careers
    • Investors
    • Sitemap
    • Site Owner

    Wolters Kluwer Tax & Accounting US

    • My Account
    • Shop
    • Support
    • Product Training
    • Product Login
    Follow Wolters Kluwer US
    • Facebook
    • Twitter
    • LinkedIn
    • Instagram
    • YouTube
    Wolters Kluwer Logo

    When you have to be right

    • Terms of Use
    • Privacy & Cookies
    • Your California Privacy Choices
      Your California privacy Choices

    © 2025 Wolters Kluwer N.V. and/or its subsidiaries. All rights reserved.

    Back To Top