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Archive for the 'Tax-Year Changes' Category

E-mail|Link Posted by Jamie Downey December 4, 2009 06:32 AM

The end of the year is now approaching and with the calendar’s change to 2010, we will also see a series of changes in federal tax laws. Certain tax deductions and benefits available to millions of Americans will no longer be available next year. Additionally, [...]

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WASHINGTON ? The Internal Revenue Service today released new withholding tables that will result in more take-home pay this spring for millions of American workers.
The new tables incorporate the new Making Work Pay credit, one of the key tax provisions included in the American Recovery and Reinvestment Act of 2009 that [...]

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FS-2009-1, January 2009
AMT exemptions rise; several expiring deductions and credits get a new lease on life; a new standard property tax deduction and a special first-time homebuyer credit are available to some homeowners; and retirement savings incentives expand. These are among the changes taxpayers will find when they fill out their 2008 tax returns. More [...]

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WASHINGTON — The Internal Revenue Service today kicked off the 2009 tax filing season by announcing a number of new steps to help financially distressed taxpayers maximize their refunds and speed payments while providing additional help to people struggling to meet their tax obligations.
IRS Commissioner Doug Shulman encouraged taxpayers to take advantage [...]

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A TAXING CHORE

By Don Shilling
Higher tax rates are coming unless Congress acts by 2010.
As taxpayers struggle through the final days before April 15, lawmakers are working on a different tax deadline.
In two years, a reduction in federal income tax rates and creation of some tax breaks are set to expire. Washington politicians — including the three major [...]

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 Companies could offer higher mileage reimbursement rates to their employees in 2008, thanks to a change in Internal Revenue Service guidelines.
The IRS has increased the standard mileage rate deduction for business miles to 50.5 cents per mile for 2008 - up from 48.5 cents in 2007.
It’s not a huge increase, but it is a new [...]

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