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TaxAlmanac continues to provide updated tax code

Overview

Taxalmanac has now been updated with the provisions of the Tax Increase Prevention and Reconciliation Act of 2005 and Heroes Earned Retirement Opportunities Act. Although these tax acts were signed into law by the President in May, 2006, we needed to wait for the public law version of the legislation to be posted by the Government Printing Office. The public law version is most suitable for importing.

As far as we know, TaxAlmanac is the only website to provide a free, up to date version of the tax code. The federal government provides a version of the tax code that is several years old. Please read more about the version of the tax code residing on TaxAlmanac: About the Internal Revenue Code.

Current Tax and Accounting

• Tax Extenders Legislation Advances in Senate Accounting Today
• Simplified Option for Claiming Home Office Deduction Now Available; May Deduct up to $1,500; Saves 1.6 Million Hours A Year IRS
• House Ways and Means Chairman Camp Releases Tax Reform Proposal Accounting Today
• IRS Offers Health Care Tax Tips to Help Individuals Understand Tax Provisions in the Affordable Care Act IRS

- This site is CLOSED - go to www.TaxProTalk.com
- COD exclusion-why use if don't need?
- Canadian NR has business in US
- Active S-Corp Dist in Excess of Basis and NII
- So much for June 1!

- Equitable or Beneficial Ownership
- Current events
- Australia Protocol
- Internal Revenue Bulletin 2007-16
- Internal Revenue Bulletin Index - 2007

Income Tax

• Rev. Rul. 2006-29 - Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate.
• T.D. 9260 - Application of Separate Limitations to Dividends From Noncontrolled Section 902 Corporations
• REG-144784-02 - Notice of Proposed Rulemaking by Cross-Reference to Temporary Regulations Application of Separate Limitations to Dividends From Noncontrolled Section 902 Corporations
• Rev. Rul. 2006-28 - LIFO; price indexes; department stores
• Rev. Proc. 2006-24 - Informs the trustee (or debtor in possession) representing the bankruptcy estate...

Employee Plans

• Rev. Proc. 2006-27 - Administrative programs; correction programs
• Notice 2006-49 - Weighted average interest rate update

Estate Tax

• Rev. Rul. 2006-26 - IRA, marital deduction

Exempt Organizations

• Announcement 2006-36 - Foundations Status of Certain Organizations
• Announcement 2006-37 - Deletions From Cumulative List of Organizations Contributions to Which are Deductible Under Section 170 of the Code

Employment Tax

• Rev. Proc. 2006-24 - Informs the trustee (or debtor in possession) representing the bankruptcy estate...

Excise Tax

• Rev. Proc. 2006-24 - Informs the trustee (or debtor in possession) representing the bankruptcy estate...

Administrative

• Rev. Proc. 2006-22 - Methods of Determining W-2 Wages for Purposes of the § 199(b)(1) Limitation on the § 199 Deduction for Income Attributable to Domestic Production Activities
• Rev. Proc. 2006-24 - Informs the trustee (or debtor in possession) representing the bankruptcy estate...

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