Table of Contents
- Publication 553 - Introductory Material
- 1.
Tax Changes for Individuals
- 2007 Changes
- Economic Stimulus Payment
- Alternative Minimum Tax (AMT)
- Standard Mileage Rate
- Earned Income Credit (EIC) Amounts Increased
- Standard Deduction Amount Increased
- Personal Exemptions
- Exclusion From Income for Certain Cancellation of Debt on Principal Residence
- Charitable Contributions
- New Form 8917, Tuition and Fees Deduction
- Income Limits Increased for Student Loan Interest Deduction
- Income Limits Increased for Hope and Lifetime Learning Credits
- Earned Income for Additional Child Tax Credit
- Mortgage Insurance Premium Deduction
- Limits Increased for Itemized Deductions
- Health Savings Accounts (HSAs)
- Child and Dependent Care Credit
- Adoption Benefits Increased
- Income Limits Increased for Reduction of Education Savings Bond Exclusion
- Increase in Deductible Limit for Long-Term Care Premiums
- Increase in Limit on Long-Term Care and Accelerated Death Benefits Exclusion
- Archer Medical Savings Accounts (MSAs) Limits Increased
- Credit for Prior Year Minimum Tax
- New Form 8919, Uncollected Social Security and Medicare Tax on Wages
- Social Security and Medicare Taxes
- Federal Telephone Excise Tax Credit
- Changes to the Instructions for Form 1040 and Form 1040NR
- Capital Asset Treatment for Self-Created Musical Works
- Whistleblower Fees
- Vacant Land Used as Part of Main Home Destroyed by a Hurricane
- Special Rules for Owners of Cooperative Apartments
- Sale of Main Home by Employees of the Intelligence Community
- Conflict-of-Interest Sales
- Penalty for Filing Erroneous Claim for Refund or Credit
- Dishonored Check Penalty Increased
- Penalty for Frivolous Tax Submissions Increased
- Expired Tax Benefits
- 2008 Changes
- Recovery Rebate Credit
- Alternative Minimum Tax (AMT)
- Maximum Tax Rate on Qualified Dividends and Net Capital Gain Reduced
- Investment Income of Children Under a Certain Age
- Standard Mileage Rate
- Earned Income Credit
- Standard Deduction Amount Increased
- Personal Exemption Amount Increased
- Income Limits Increased for Student Loan Interest Deduction
- Hope and Lifetime Learning Credits
- Earned Income for Additional Child Tax Credit
- Limits Increased for Itemized Deductions
- Exclusion on Sale of Main Home by Surviving Spouse
- Health Savings Accounts (HSAs)
- Adoption Benefits Increased
- Income Limits Increased for Reduction of Education Savings Bond Exclusion
- Increase in Deductible Limit for Long-Term Care Premiums
- Increase in Limit on Long-Term Care and Accelerated Death Benefits Exclusion
- Archer Medical Savings Accounts (MSAs) Limits Increased
- Credit for Prior Year Minimum Tax
- Exclusion of Income for Volunteer Firefighters and Emergency Medical Responders
- Social Security and Medicare Taxes
- Wage Threshold for Household Employees
- Expired Tax Benefits
- 2007 Changes
- 2.
Tax Changes for Businesses
- 2007 Changes
- Depreciation and Section 179 Deduction
- Self-Employment Tax
- Social Security and Medicare Taxes
- Husband-Wife Business
- Self-Employed Health Insurance Deduction
- Domestic Production Activities Deduction Increased
- Employer-Owned Life Insurance Contracts
- Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips
- Work Opportunity Credit
- Alternative Fuel Vehicle Refueling Property Credit
- Low Sulfur Diesel Fuel Production Credit
- Fringe Benefit Parking Exclusion and Commuter Transportation Benefit
- Health Savings Accounts
- S Corporations
- Penalty for Late Filing of a Partnership Return
- Penalty for Late Filing of an S Corporation Return
- Certain Transfers of Qualifying Geothermal or Mineral Interests
- Certain Timber Losses
- 2008 Changes
- Depreciation and Section 179 Deduction
- Meal Expenses When Subject to Hours of Service Limits
- Self-Employment Tax
- Social Security and Medicare Taxes
- Federal Unemployment Tax Act (FUTA) Tax Rate
- Maximum Automobile Value for Using the Cents-Per-Mile Valuation Rule
- Fringe Benefit Parking Exclusion and Commuter Transportation Benefit
- Health Savings Accounts
- Nonqualified Deferred Compensation Plans
- Penalty for Late Filing of a Partnership Return
- Expired Tax Benefits
- 2007 Changes
- 3.
IRAs and Other Retirement Plans
- 2007 Changes
- Catch-up Contributions in Certain Employer Bankruptcies
- Income Exclusion for Retired Public Safety Officers
- Modified AGI Limit for Traditional IRA Contributions Increased
- Rollover by Nonspouse Beneficiary
- Modified AGI Limit for Retirement Savings Credit Contributions Increased
- Rollover of Nontaxable Amounts
- Modified AGI Limit for Roth IRA Contributions Increased
- Qualified Plans
- Simplified Employee Pensions (SEPs)
- SIMPLE Plans
- 403(b) Plans
- 2008 Changes
- Traditional IRA Contribution and Deduction Limit
- Modified AGI Limit for Traditional IRA Contributions Increased
- Modified AGI Limit for Retirement Savings Contributions Credit Increased
- Roth Contribution Limit
- Modified AGI Limit for Roth IRA Contributions Increased
- Qualified Plans
- Simplified Employee Pensions (SEPs)
- 403(b) Plans
- Rollovers From Other Retirement Plans to Roth IRAs
- Expired Tax Benefits
- 2007 Changes
- 4. Estate and Gift Taxes
- 5. Excise Taxes
- 6. Foreign Issues
- 7. How To Get Tax Help
- Index
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