Are you facing a lot of different tax questions this year?
IRS experts have pulled together an overview of common tax issues in one convenient place — Publication 17, Your Federal Income Tax. This publication, available on the IRS.gov, contains helpful information for individual taxpayers.
This year for the first time, the IRS will issue a Spanish language version of this popular publication.
The on-line version of Publication 17 contains electronic links that make finding your answer simple. Both the downloadable PDF and on-line 2008 Publication 17 have over 900 hyperlinks. These hyperlinks allow users to immediately go to other parts of the publication, reducing searches to just a few clicks.
From stock sales to student loans, this nearly 300-page publication holds the answers to many of your questions:
- Need help with a Roth IRA? Try Chapter 17 for Individual Retirement Arrangements.
- Do you have a new child in the house? See Chapter 34 for the Child Tax Credit.
- Are you selling stock for the first time? Check Chapter 16 for reporting capital gains. If you’re unloading losers, reporting capital losses is there, too.
- Do you need to report the profit on your home sale? See Chapter 15 for some good news. Generally, if you qualify you only need to report the sale of your home if your gain is more than $250,000 ($500,000 if married filing a joint return).
And the best part about Publication 17? It’s free. To get a copy, visit the IRS Web site at IRS.gov or call 800-TAX-FORM (800-829-3676).
Links:
For questions concerning this article and/or its contents listed herein, contact Lesemann & Associates, PLLC CPAs.
For assistance in tax planning and preparation of your Federal & State Income Tax Returns, please email Lesemann & Associates, PLLC CPAs (Info@LesemannCPA.com) or go to our Contact Us page. We will respond as soon as possible to your questions.
If you are looking for an experienced CPA firm in Charlotte NC, Lake Norman NC, Huntersville NC, Cornelius NC, Davidson NC, Mooresville NC, surrounding cities or even South Carolina, please contact Lesemann & Associates, PLLC CPAs.
CIRCULAR 230 NOTICE: IRS regulations require us to advise you that, unless otherwise specifically noted, any federal tax advice in this communication (including any attachments, enclosures, or other accompanying materials) was not intended or written to be used, and it cannot be used, by any taxpayer for the purpose of avoiding penalties; furthermore, this communication was not intended or written to support the promotion or marketing of any of the transactions or matters it addresses.
