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Sunday, January 16, 2011

New Tax Laws

There are more changes this tax season than usual...

The average number of tax and filing changes each year is 200 – but this year there are more than 500! One of the biggest changes is with itemizing. If you use something other than the simple W2 or 1099 forms – you’ll have to wait until the middle of February to file. Deductions for business and medical mileage have also changed. If you write those things off – make sure to check the new requirements. The IRS has a lot of the changes highlighted at IRS.gov – just click on the “Individuals” tab.

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