Income Tax News

Income Tax News ~ Submit a news story ~ Highlights and Commentary

When you are trying to deal with your end of year income taxes, it can take all your energy just to get through the day. But one thing that can help is to stay on top of the latest tax news. You never know when you can find out something that can help you during tax time.

To make life easier for you, I have done the work of collecting the latest news on income taxes for you. This page will automatically update whenever a news story is released that is related to income taxes.

Be sure to bookmark this page, or sign up for our site's RSS feed by clicking on one of the orange buttons to the left.

I will occasionally comment on certain news items and add it to my site. You can see a summary of my news highlights and commentary just below the News section below. In fact, you can submit a news story about income taxes or your commentary as well!

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Income Tax News Highlights and Contributions

Click below to see news highlights, contributions and commentary from other visitors to this page...

How to File an Extension
There seem to be many more people in need of filing an extension this year. If you do not think that you will be able to gather all of your tax information …

Bonus Depreciation Guidance Not rated yet
Tax Legislation Update: IRS Revenue Procedure 2011-26 Provides Bonus Depreciation Guidance

By Nancy Faussett, CPA

Publication Date: 05/03/2011

The …

Tax Code Overhaul Must Wait Not rated yet
NEW YORK/WASHINGTON (Reuters) – A push to overhaul the U.S. corporate tax code will take a back seat to negotiations on the deficit and debt ceiling over …

250,000 Income Tax Treshold Not rated yet
Why is $250,000 the magic number?

There has been much debate with regards to how to close the budget deficit. With President Obama's fix saying that …

Income Made and Taxes Paid by the Rich Not rated yet
The income that is made and taxes that are paid by the rich vs the not so rich has been quite a hot topic. With most being resistant to any and all kinds …

Flat Tax Plan Not rated yet
Apparantly, Arizona Legislature is racing to finalize a budget compromise that includes a controversial flat tax plan that would set a rate of 2.8 percent …

Obama's Vow to Crack Down on Tax Evaders Not rated yet
WASHINGTON (May 4) -- President Barack Obama proposed Monday to raise taxes on the overseas profits of U.S. companies and to go after evaders who abuse …

Hobby Loss Rules Not rated yet
A treasury audit examines tax impact of abusive hobby loss deductions by high-income taxpayers (Audit Report No. 2007-30-173)

This new audit by the …

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