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Featured Articles

Home Office: Don’t forget driving deduction - Do you have a deductible home office? That could provide a business-driving deduction for otherwise nondeductible commuting costs between home and other work locations.

New Tax Breaks For Home Sellers - A revamping of the Internal Revenue Code in 1997 included provisions that significantly revise the tax breaks for real estate, particularly the way home owners figure the taxes on sales of their dwellings.

Recent Articles

Breaking news
IRS Reminder: Corporations are entitled to early tax refunds on estimated taxes paid
Congress Approves Expansion of the Archer Medical Savings Accounts (MSAs)
IRS expedites tax-exempt status of charitable organizations
IRS announces quarterly interest rates

Tax Legislation
Protecting the Internet from Taxes: The Internet Tax Nondiscrimination Act of 2001
Economic Growth and Tax Relief Reconciliation Act of 2001: Part I

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Victims of Terrorism Relief Act of 2001 - Congress has acted quickly in the face of an insurmountable emotional tragedy engulfing the nation to provide tax relief to those affected most, “any individual who dies as a result of wounds or injury incurred as a result of the terrorist attacks against the United States on September 11, 2001.”

IRS will defer back taxes for New Enlistees and Reservists called to Active Duty - By year 2011, the estate tax will be history. Starting with next year’s reduction of 2 percentage points, down from 55% to 53%, the estate tax will be completely phased out by the beginning of the second decade of this century.

Small businesses are offered relief- With the present economy in worst shape than it has been in the last sixty years and the state of mind of the American people still in mourning and recovery from physical and emotional scars, IRS realizing that some relief for the small businesses, hit especially hard by the present events, is most needed.