Main Page

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

(Difference between revisions)
Jump to: navigation, search
Line 29: Line 29:
! <h2 style="margin:0;background-color:#B1D68B;font-size:120%;font-weight:bold;border:1px solid #7EBA41;text-align:left;color:#000;padding:0.2em 0.4em;">Featured article</h2>
! <h2 style="margin:0;background-color:#B1D68B;font-size:120%;font-weight:bold;border:1px solid #7EBA41;text-align:left;color:#000;padding:0.2em 0.4em;">Featured article</h2>
|-
|-
-
|style="color:#000"|{{TaxAlmanac:Featured article/May 22, 2008}}
+
|style="color:#000"|{{TaxAlmanac:Featured article/June 2, 2008}}
|}
|}
|class="MainPageBG" style="width:45%;border:1px solid #B1BCA1;background-color:#E3E7DD;vertical-align:top"|
|class="MainPageBG" style="width:45%;border:1px solid #B1BCA1;background-color:#E3E7DD;vertical-align:top"|

Revision as of 17:14, 2 June 2008

TaxAlmanac
The free online tax research resource and
community for tax professionals.

Overview · Quick Start Guide · A-Z Index · Explore · Help

Tax Research Library

Discussion Forums

Content by Category:

Featured article

May 2008 Legislation

House Reaffirms Commitment to America’s Armed Forces

Bill would provide essential tax relief to military families

WASHINGTON, D.C. - The House of Representatives approved bipartisan legislation to deliver tax relief to the men and women of our nation’s armed services, as well as others volunteering in service in America. The bill, H.R. 6081, the Heroes Earnings Assistance and Relief Tax (HEART) Act of 2008, also makes a critical change to current law that will enable thousands of active duty military families to qualify for economic stimulus payments. H.R. 6081 passed the House by a vote of 403-0.

“This bill is called the HEART Act, but I would prefer to call it the thank you bill – thank you to the tens of thousands of American men and women who have responded to America’s call to fight this war and place themselves in harm’s way to serve this nation,” said Chairman Charles B. Rangel (D-NY), chief sponsor of the HEART Act. “This bill enhances their ability to get tax benefits such as the Earned Income Tax Credit, buy homes, make penalty-free withdrawals from their pension plans, access amounts held in a Flexible Savings Account, and remove other impediments that keep them from getting the relief they deserve.

Farm Bill’s Disaster Aid, Reforms & Tax Relief Become Law As Senate Overrides Veto

Finance Chairman Baucus led fight for new disaster assistance trust fund, $2 billion in farm tax reforms funding farm tax relief

Washington, DC – The U.S. Senate voted 82-13 to override a presidential veto of the 2008 farm bill, giving America’s farming families a permanent agriculture disaster assistance trust fund and nearly $2 billion in farm tax relief as part of comprehensive farm legislation. Senate Finance Committee Chairman Max Baucus (D-Mont.) led the creation and the passage of the reliable disaster assistance program and the bill’s tax and trade title, as well as the successful effort to fully pay for the bill’s $10 billion in new spending over the next ten years. The bill’s farm tax relief is also fully funded with nearly $2 billion in strong farm tax reforms. “When the sun sets on farm country tonight, hard-working folks can know that this Congress believes in America’s agricultural sector. By voting to override the President’s veto, we did what’s right for farm families in Montana and across the country today,” said Baucus. “Farm life will never be easy, but the disaster assistance and tax relief in this new law will help American ag producers shoulder the load of providing food and fuel to the world. Strong reforms make the farm bill fairer and require everyone to do their share. I’m proud to stand up for Montana and for all of America to support this farm bill.”


In the News

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

Recent Discussions

- 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!

Recent Articles

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

Did you know?

Searching - Searching on TaxAlmanac is simple. Just type what you're looking for into the search box located on the left side of every TaxAlmanac page. Then press the Enter key or click the Go button. You can also search for phrases such as "Gift Tax" just by adding quotes around the words. Read more...

Contact Us – Submit Feedback – TaxAlmanac Media Coverage – Community Feedback


Personal tools