2007 Tax Law Changes

[I-luvmoney]

2007 Tax Law Changes

How tax requirements have changed for '07



Changes will affect just about all taxpayers.

Every year, Congress or the Internal Revenue Service makes life better or worse for taxpayers by changing the tax laws or the tax rules that implement the tax laws. 2007 was no exception. There were a number of changes, mostly required to adjust the tax code for inflation. Changes for 2007 range from annual adjustments to account for inflation to an important new rule on record-keeping for charitable deductions. A late and important break: a fix on the alternative minimum tax. Here are the changes that affect most taxpayers

read here

[moneysense]

This is a very useful and informative article. Thanks for posting it.

[javie$]

Great information thanks for posting it.

[carol b]

I think that is good news the larger tax brackets will help in the end. And the additional credits will really help when we file.

[kst$]

Thanks for posting very informitive information..

[I-luvmoney]

Is it true that every year if you use the turbo tax on the computer that you have to replace the disk every year due to tax law and deductions changing?

[moneysense]

Thats a good question. Let me see if I can find you the answer.

[kst$]

Yes it is true.. You have to purchase a new one every year do to the changes. Here is a site that may help you if you have further questions.
It was very helpful to me.. because I had that same question.

read more here

https://turbotax.intuit.com/support/...equestid=14134

http://turbotax.intuit.com/

[carol b]

I was just on the IRS website there are quite a few changes. I am so glad that someone else does my taxes. I don't think I could handle it.

[javie$]

Thanks for the information I was wondering the same thing. Last year was the first time that I used turbo tax it was pretty self explanatory. I have always gone somewhere to get them done but last year I thought I would try it. It was an experience but not hard the form walks you through each step. You have heard windows for dummies well that me if I can do it anyone can.