The IRS announced changes in various inflation-related tax benefits for the 2006 tax year. The following changes will apply to 2006 returns filed in 2007: Personal exemption for yourself, spouse, and ... Read More

Taxpayers who engaged in a wide variety of "abusive transactions" will be able to settle their tax troubles with the IRS. According to the annoucement, IRS Commissioner Mark Everson ... Read More

The Internal Revenue Service announced tax relief provisions for the victims of Hurricane Wilma. Similar to hurricane tax relief provisions that were made available to Katrina and Rita victims. The ... Read More

The Internal Revenue Service agreed to extend its partnership with the Free File Alliance of tax software publishers. According to the IRS announcement, companies in the alliance served over 5 million ... Read More

The Internal Revenue Service reports that 84,290 tax refund checks are undeliverable. The IRS will re-deliver the checks as soon as taxpayers contact the IRS to update their mailing address. ... Read More

The Internal Revenue Service is looking to fill vacancies on its Advisory Committee on Tax Exempt and Government Entities. This committee advises the IRS on the tax administration of employee ... Read More

The US Treasury Department has released proposed regulations interpreting Internal Revenue Code Section 199. According to the Treasury, The section 199 deduction relating to domestic production activities was enacted in October ... Read More

You can contribute up to $15,000 in 401k plans for 2006. The IRS announced pension plan limitations and cost of living adjustments for 2006. Participants in 401k and Federal Thrift ... Read More

The IRS is in the processing of drafting a new tax form. Form 8915, Qualified Hurricane Katrina Retirement Plan Distributions and Repayments, will be used to report distributions from IRAs ... Read More

Dear Tax Guide, I'm reading your article on capital gains, and would like to ask a question: Am I correct in assuming that each time I purchase additional funds in my ... Read More

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 goes into effect on Monday, October 17, 2005. The new law makes it harder for people to qualify for a ... Read More

The final deadline for filing your 2004 taxes in a timely manner is Monday, October 17th, 2005. Monday is the deadline for filing Form 1040, Form 1040A, and Form 1040EZ, ... Read More

Under the Katrina Emergency Tax Relief Act of 2005, taxpayers claiming a casualty loss as a result of Hurricane Katrina will not have to limit their losses. Normally, casualty losses ... Read More

The IRS has tentatively released their "

Indiana's Department of Revenue announced that the State has collected over $24 million in the first three weeks of its one-time tax amnesty program. Unlike amnesty programs in other states, ... Read More

The Internal Revenue Service issued a gentle reminder of the upcoming October 17th, 2005, deadline to file tax returns for the year 2004. According to the announcement, Taxpayers may file returns ... Read More

Web-based tax preparation programs will be available through October 17, 2005, for preparing your 2004 tax return. After October 17th, you will need to use CD-ROM based software, such TurboTax ... Read More

"Filing an amendment" is a formal way for you to change a tax return you already filed with the IRS. Regardless of which tax form you originally filed, you will ... Read More

Software for the 2004 tax year is still available. As part of the IRS Free File Alliance, various tax software companies offer free versions of tax preparation software to customers ... Read More

Casualty losses, such as damage done to cars, houses, and personal property as the result of the recent hurricanes, is a tax deduction. Normally, casualty losses are subject to two ... Read More