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New Federal Income Tax Laws & Tips for 2008
*** Updated Information: Tax Laws: What's New for 2009? ***
Below you will find information on new federal income tax laws for 2008 (tax year 2007), and up-to-date tips on filing your taxes with the IRS in time for this year's April 15, 2008 deadline.
Federal Income Tax Law Changes for Individuals:
(from the IRS)- 2007 Tax Rate Schedules
- Adoption
- Alternative Minimum Tax
- Archer MSA Limits Increased
- Capital Asset Treatment for Self-Created Musical Works
- Charitable Contributions
- Credit for Prior Year Minimum Tax
- DC First-Time Homebuyer
- Earned Income for Additional Child Tax Credit
- Earned Income Credit Amounts Increase
- Education Savings Bonds
- Expired Tax Benefits
- Hope and Lifetime Learning Credits
- Long-Term Care and Accelerated Death Benefits
- Mortgage Insurance Premiums
- Social Security and Medicare Taxes
- Standard Mileage Rate
- Whistleblower Fees
More Tax Law Changes and Tips for Filing This Year:
(from the IRS)- For Gifts, Estates, and Trusts
- For IRAs and Other Retirement Plans
- For Businesses
- For Exempt Organizations
- IRS Tax Tips for 2008
- IRS Fact Sheets for 2008
Get comprehensive information on taxes -- including tips on filing your taxes, what to do about audits and tax problems, and links to state-specific resources -- in FindLaw's Tax Center
FAQs
- What tax breaks are available to homeowners?
- How can I qualify for a tax deduction on a home office?
- Is there any way to lower the property taxes on my house?
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