Federal Income Tax Law Changes

Following are up-to-date highlights of key federal income tax law changes for individuals and families, and links for more information on these changes direct from the Internal Revenue Service (IRS). Click on a link at the right to read more regarding the topic listed on the left.
Back To Income Tax Law Changes

Alternative Minimum Tax (AMT) http://www.irs.gov/formspubs/article/0,,id=207573,00.html
Adoption Benefits Increased http://www.irs.gov/formspubs/article/0,,id=177982,00.html
Child's Investment Income http://www.irs.gov/formspubs/article/0,,id=178010,00.html
Earned Income for Additional Child Tax Credit http://www.irs.gov/formspubs/article/0,,id=177989,00.html
Decreased Estimated Tax Payment for Qualified Individual With Small Businesses http://www.irs.gov/formspubs/article/0,,id=208103,00.html
Deduction for Credit or Debit Card Convenience Fees http://www.irs.gov/formspubs/article/0,,id=208099,00.html
Deduction for Sales and Excise Taxes Imposed on Purchase of New Motor Vehicles http://www.irs.gov/formspubs/article/0,,id=208101,00.html
Earned Income Credit http://www.irs.gov/formspubs/article/0,,id=180803,00.html
Economic Recovery Payment http://www.irs.gov/formspubs/article/0,,id=207441,00.html
Education Savings Bond Exclusion http://www.irs.gov/formspubs/article/0,,id=178003,00.html
Hope and Lifetime Learning Credits http://www.irs.gov/formspubs/article/0,,id=177996,00.html
Student Loan Interest Deduction http://www.irs.gov/formspubs/article/0,,id=178005,00.html
Archer Medical Savings Accounts (MSAs) http://www.irs.gov/formspubs/article/0,,id=177983,00.html
Health Coverage Tax Credit http://www.irs.gov/formspubs/article/0,,id=210618,00.html
Health Flexible Spending Arrangements (FSAs) http://www.irs.gov/formspubs/article/0,,id=204386,00.html
Health Savings Accounts (HSAs) http://www.irs.gov/formspubs/article/0,,id=178009,00.html
Long-Term Care Premiums http://www.irs.gov/formspubs/article/0,,id=177999,00.html
Discharge of Qualified Principal Residence Indebtedness http://www.irs.gov/formspubs/article/0,,id=210619,00.html
First-Time Homebuyer Credit http://www.irs.gov/formspubs/article/0,,id=203083,00.html
Sale of Main Home http://www.irs.gov/formspubs/article/0,,id=210620,00.html
Income Averaging for Farmers and Fisherman http://www.irs.gov/formspubs/article/0,,id=209340,00.html
Increase in Limit on Long-Term Care and Accelerated Death Benefits Exclusion http://www.irs.gov/formspubs/article/0,,id=180804,00.html
Increase in Personal Casualty and Theft Loss Limit http://www.irs.gov/formspubs/article/0,,id=210622,00.html
Maximum Tax Rate on Qualified Dividends and Net Capital Gain Reduced http://www.irs.gov/formspubs/article/0,,id=179793,00.html
Penalty for Failure to File Income Tax Return Increased http://www.irs.gov/formspubs/article/0,,id=186746,00.html
Qualified Transportation Fringe Benefits http://www.irs.gov/formspubs/article/0,,id=210623,00.html
Social Security and Medicare Taxes http://www.irs.gov/formspubs/article/0,,id=177943,00.html
Standard Deduction Increased http://www.irs.gov/formspubs/article/0,,id=208097,00.html
Standard Mileage Rate   http://www.irs.gov/formspubs/article/0,,id=178004,00.html
Unemployment Compensation http://www.irs.gov/formspubs/article/0,,id=207577,00.html
Wage Threshold for Household Employees http://www.irs.gov/formspubs/article/0,,id=181051,00.html
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