Many Taxpayers Stand to Gain From New Laws

  • January 7, 2009

Wealthy Likely to Benefit Most From 2009 Changes; Putting More in Your 401(k) New Year's Day brought relief for most taxpayers, especially upper-income ones -- even as President-elect Barack Obama is proposing new tax cuts as part of his wide-ranging economic-stimulus package

What’s new this tax season on 2008 returns?

  • January 5, 2009

While 2009 holds great promise for new tax relief to help individuals and businesses recover from the current economic crisis, one of the first orders of business for all taxpayers in the New Year is to look back at the tax relief already on the books. Doing so will help you file your 2008 tax return with the lowest bottom-line tax liability possible.

Congress predicted to pass early stimulus bill for Obama to sign

  • January 5, 2009

The new Congress is predicted to act quickly in January to pass stimulus legislation that President Barack Obama to sign when he takes office, according to a tax aide to a Republican member of the Senate. A second round of stimulus checks is unlikely, according to the aide. However, there are proposals for a payroll tax holiday.

Jumpstarting the 2009 tax year

  • January 5, 2009

Happy New Year! As 2009 gets underway, and you prepare for the 2008 filing season, it's important not to overlook a number of valuable tax planning opportunities that apply right away to the 2009 tax year. Here are 10 considerations for tax planning as 2009 starts.

A Quiet Windfall For U.S. Banks

  • December 24, 2008

The financial world was fixated on Capitol Hill as Congress battled over the Bush administration's request for a $700 billion bailout of the banking industry. In the midst of this late-September drama, the Treasury Department issued a five-sentence notice that attracted almost no public attention.

Congress Passes Emergency Pension Tax Relief/Technical Corrections

  • December 19, 2008

The continuing drumbeat of bad economic news has spurred the lame-duck Congress to pass an emergency package of pension recovery provisions and pension-related technical corrections.

IRS lowers business standard mileage rate to 55 cents-per-mile for 2009; Rate for medical/moving also drops

  • December 17, 2008

The IRS has just released the 2009 optional standard mileage rates, effective beginning on January 1, 2009.

Year-end brings tax cutting opportunities for individuals and businesses

  • December 17, 2008

December is always a busy month with a flurry of holiday and year-end activities. In the rush of events, it's easy to forget that the end of the year is also a very important time for tax planning. This year is no exception. Indeed, 2008 has been one of the busiest years for federal tax legislation.