The IRS has placed its comprehensive tax guide for individuals on IRS.gov, updating it for tax year 2008
The IRS has placed its comprehensive tax guide for individuals on IRS.gov, updating it for tax year 2008. The updated on-line version of IRS Publication 17, “Your Federal Income Tax Guide,” contains more than 900 interactive links to help taxpayers complete their returns quickly and easily.
“Publication 17, Your Federal Income Tax Guide, is a great source of information for the upcoming tax season for those who prepare their own tax returns as well as use the services of a tax professional,” said IRS spokesperson Gregg Semanick. “Publication 17 can be viewed as your one stop for tax questions and answers and considered as your ‘federal tax encyclopedia.’ Publication 17 will enable you to plan and finalize your tax strategies right now.”
Publication 17 has been updated with important changes for 2008, including information on the new recovery rebate credit, new first-time-homebuyer credit, and an additional standard deduction for real estate taxes. It has been published annually by the IRS for more than 65 years and has been available on the IRS Web site since 1996.
As in prior years, the publication provides information on how to file an individual tax return including tips on electronic filing, what to include as income, how to calculate capital gains and losses, how IRAs and other expenses can affect how much income to report, whether to take the standard deduction or itemize, and how to figure taxes and credits.
To get IRS Publication 17, go to www.irs.gov. and enter “17” in the search box in the upper right corner of the home page. Those who do not have access to the Internet can call 800-829-3676 to request a free copy from the IRS. Printed copies will be available in January 2009.