News

News Expanded Tax Break Available for 2009 First-Time Homebuyers WASHINGTON -- The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year. read more....

New Withholding Tables Now Available on IRS.gov; Most Workers Will See Bigger Paychecks this Spring WASHINGTION -- The Internal Revenue Service today released new withholding tables that will result in more take-home pay this spring for millions of American workers. read more....

The Making Work Pay Tax Credit Attention Employers: The IRS has issued updated withholding tables to help you implement the withholding adjustments required by the new economic stimulus law. read more....

Retirement Plan Rules Change for 2009 Thanks to the Worker, Retiree and Emplyer Recovery Act, you won't have to take an RMD for calendar-year 2009. That's true no matter the balance in your accounts, and no matter your income. CAUTION: Under an exception available only for your first RMD, you can postpone a distribution until April of the following year. However, the new rules do not apply to these delayed RMDs, meaning that if you reach age 70 and a half in 2008, but decide to put off your initial withdrawal until 2009, you still have to take that distribution.