The New Law: A Detailed Look at Personal Tax Changes
The massive new federal "bailout" law contains nearly 300 changes to the tax code. Who benefits? A variety of individual taxpayers including those who were threatened by the alternative minimum tax, homeowners installing green energy sources, parents of college students, people who exercised incentive stock options, as well as many others. Click "Full Article" for a detailed look at some of the personal tax breaks included in the Emergency Economic Stabilization Act of 2008.
Tucked into theEmergency Economic Stabilization Act of 2008 is a major change in the amount of information that will be supplied to the IRS about investors' activities. These rules were passed in response to tax officials long-standing suspicion that many taxpayers overstate their tax basis when they sell securities in order to pay less tax. Click "Full Article" to find out when the new cost basis reporting rules kick in and what new information will be received by the IRS.
Full Newsletter 
On October 23, 2008, Charles Postal was appointed "MGI North America Area Coordinator".
The massive new federal "bailout" law contains nearly 300 changes to the tax code. Who benefits? A variety of individual taxpayers including those who were threatened by the alternative minimum tax, homeowners installing green energy sources, parents of college students, people who exercised incentive stock options, as well as many others. Click "Full Article" for a detailed look at some of the personal tax breaks included in the Emergency Economic Stabilization Act of 2008.
Tucked into the Emergency Economic Stabilization Act of 2008 is a major change in the amount of information that will be supplied to the IRS about investors' activities. These rules were passed in response to tax officials long-standing suspicion that many taxpayers overstate their tax basis when they sell securities in order to pay less tax. Click "Full Article" to find out when the new cost basis reporting rules kick in and what new information will be received by the IRS.
Advocates of clean energy have plenty to cheer about in the latest tax law. There are deductions and tax credits for solar and wind equipment, plug-in electric vehicles, energy improvements made to commercial buildings, and much more. Click "Full Article" for a list of 20 energy-related tax provisions included in the Emergency Economic Stabilization Act of 2008.
Save Article 
An expensive tax penalty can be personally imposed on any person responsible for collecting, accounting for, or turning over taxes to the federal government that are withheld from employees' paychecks. There is often more than one person in a firm who can be hit with the "100 Percent Penalty," also called the Trust Fund Recovery Penalty. Take a look at three cases that illustrate who can be liable.
The sale of a home is a common occurrence in a divorce. If you are going through a marital break-up, depending on how you divide your property and how the divorce papers are worded, you could end up paying taxes on a home sale gain that would otherwise be tax-free. Read the "Full Article" to find out what you need to do to plan ahead and pocket your share of the profits.
