2008 Taxes
Resources to help you prepare and file your 2008 federal income tax return. Find facts and figures to help you plan ahead for the 2008 tax year.
What's New for 2008 Federal Income Taxes
Summary of the most important changes in the tax law impacting your 2008 tax returns.
Summary of the most important changes in the tax law impacting your 2008 tax returns.
Recovery Rebate Credit
The recovery rebate credit is a special federal tax credit for 2008 only. The credit is available for individuals who did not apply for the economic stimulate rebate in 2007. The recovery rebate credit is also available for people who's rebate is higher when calculated using their 2008 financial information.
The recovery rebate credit is a special federal tax credit for 2008 only. The credit is available for individuals who did not apply for the economic stimulate rebate in 2007. The recovery rebate credit is also available for people who's rebate is higher when calculated using their 2008 financial information.
2008 Tax Rebates and Economic Stimulus Plan
The first piece of tax legislation in 2008, the Economic Stimulus Act provides that the taxpayers will receive a one-time rebate in mid-2008. The rebates, or "stimulus payments" as they are being called by the IRS, will be mailed or sent via direct deposit to individuals who file a 2007 tax return and meet certain eligibility requirements.
The first piece of tax legislation in 2008, the Economic Stimulus Act provides that the taxpayers will receive a one-time rebate in mid-2008. The rebates, or "stimulus payments" as they are being called by the IRS, will be mailed or sent via direct deposit to individuals who file a 2007 tax return and meet certain eligibility requirements.
Congress Approves Tax Rebates for 2008
Congress has approved one-time tax rebates as part of a plan to stimulate the economy. Individuals will receive early tax rebates, businesses will be allowed to write-off additional investments in fixed assets, and provides higher dollar limits for conforming mortgage loans.
Congress has approved one-time tax rebates as part of a plan to stimulate the economy. Individuals will receive early tax rebates, businesses will be allowed to write-off additional investments in fixed assets, and provides higher dollar limits for conforming mortgage loans.
Housing Assistance Tax Act of 2008
The Housing Assistance Tax Act of 2008 provides a four important tax law changes that impact individuals and small businesses: tax credit for first-time homebuyers; additional property tax deduction for people who don't itemize; reporting of merchant payments to the IRS; and prorated capital gains exclusion for real estate for periods of non-primary use.
The Housing Assistance Tax Act of 2008 provides a four important tax law changes that impact individuals and small businesses: tax credit for first-time homebuyers; additional property tax deduction for people who don't itemize; reporting of merchant payments to the IRS; and prorated capital gains exclusion for real estate for periods of non-primary use.
Quick Tax Facts for 2008
Overview of key tax figures for 2008. Includes standard deduction, personal exemption, phaseout ranges for itemized deductions, and retirement plan contribution limits.
Overview of key tax figures for 2008. Includes standard deduction, personal exemption, phaseout ranges for itemized deductions, and retirement plan contribution limits.
2008 Tax Rate Schedules
Marginal income tax rates for the 2008 tax year.
Marginal income tax rates for the 2008 tax year.