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IRS Publishes Comprehensive Tax Guide

by Glen Shapiro, LawAndTax-News.com, New York

18 December 2008


The United States Internal Revenue Service (IRS) has placed its comprehensive tax guide for individuals on the agency's website, updating it for tax year 2008.

The IRS announced on Wednesday that the updated on-line version of IRS Publication 17, 'Your Federal Income Tax', contains more than 900 interactive links.

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 website since 1996.

As in prior years, the publication provides information on how to file an individual tax return, what to include as income, how to calculate capital gains and losses, how Individual Retirement Accounts 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.

Publication 17 will also be available in printed form from January 2009.


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