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William's Tax Planning Blog

By William Perez, About.com Guide to Tax Planning since 2004

Tax News Roundup

Saturday February 4, 2006
Every Saturday, we'll take a look at the top tax stories in the news.

Tax Talk Goes Orwellian
(New York Times Op/Ed) Reaction to President Bush's State of the Union address. Suggests that Bush's policy of tax cuts runs counter to his demand to make tough decisions in face of political reality. Opines that tax increases are necessary to prevent the federal debt from spiralling out of control. For additional reactions to the State of the Union address, see: State of the Union (roundup by Current Events Guide Kathy Gill), reaction from Conservative Politics Guide Amy Hess, and reaction from Liberal Politics Guide Deborah White.

Hurricanes 'Wild Card' for 2006 Tax Season
(AP) More taxpayers than ever will be seeking out the help of tax accountants, according to tax prep giants H&R Block and Liberty Tax Service. Casualty losses caused by last year's hurricanes are the subject of complex tax laws enacted late in the year. People seeking the help of tax accountants should call around to find a tax preparer who is qualified to handle their tax situation.

10 New Tax Laws You Need to Know
(Bankrate) Kay Bell summarizes ten new tax laws that you really need to know, such as tax breaks for hurricane victims, new rules for donating cars to charities, and the new uniform definition of a child. (Kay Bell provides daily tax news and commentary on her blog, Don't Mess with Taxes.)

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