WASHINGTON - Want to learn about the principal tax law changes that could affect your 2000 tax return?

IRS Publication 553 highlights the tax changes in these areas:

• Interest on student loans.
• Individual Retirement Arrangements (IRAs) - including traditional IRA income limits, and returned contributions and recharacterizations.
• Capital gain distributions.
• Foreign earned income exclusion.
• Standard mileage rate.
• Meal expenses when subject to �hours of service limits.� Lump-sum distributions.
• Revocation of exemption from Social Security coverage.
• Paid preparer authorization.
• Eligible foster child.
• Limit on personal credits.
• Estimated tax safe harbor for higher income individuals.
• Definition of noncapital assets expanded.

To obtain a copy of Publication 553, call the IRS toll-free at 1-800-829-3676. The important tax changes are also summarized in IRS Publication 17, “Your Federal Income Tax.” Visit the IRS web site at www.irs.gov under the “Forms & Pubs” section, or call 1-800-829-3676 for a copy.

Previous | Next

Tax Tips | 2000 Tax Year Archives | Tax Help Archives | Home