The IRS has released it’s ever helpful tax guide for the individual. Below are highlights of the tax changes for 2008:
Economic stimulus payment. Any economic stimulus payment you received is not taxable but reduces your recovery rebate credit.
Recovery rebate credit. If you did not receive the full economic stimulus payment, you may be able [...]
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The IRS released guidelines that help eligible homeowners who received federal reimbursement grants relating to Hurricane Katrina, Rita or Wilma. Specifically it outlines how recipients should amend their 2005 tax returns to avoid paying taxes on their grant money.
clipped from www.irs.gov
The notice explains how eligible taxpayers can amend prior-year returns to reduce the casualty [...]
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With Hurricane Gustav making land fall and more storms to come, the IRS is keeping a watchful eye on the damage and encouraging taxpayers in vulnerable areas to protect their financial records. To keep an eye on the developing tax relief options, visit www.IRS.gov.
For those whom were affected by Hurricanes Katrina, Rita and Wilma, [...]
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