Key Provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001AccountingWEB is pleased to present a special offer on a turn-key client seminar on the new tax legislation, developed by Garverick - McCoy Seminars, a leader in tax seminar materials since 1993. Everything you'll need to put on a successful client seminar will be included in this package.

The IRS has announced plans to drop the rate of interest on late tax payments to seven percent, effective July 1, 2001. The seven percent rate will apply to interest due on overpayments as well. The prior rate of eight percent will remain in effect through the end of June.The rate for overpayments for corporations will drop to six percent on July 1.

A Salem, Oregon couple suffered the loss of their baby to a rare pediatric disease early in 2000. Now the couple faces additional unexpected grief at the hands of the IRS.An unidentified taxpayer claimed the child as a dependent on a 2000 tax return, using the child's name and Social Security number, information that was apparently found on the Internet.The parents of the deceased child also claimed the child as a dependent on their 2000 tax return, a claim that was legal.

We have prepared a 2001 Tax summary for you to offer to your clients as well as a complete set of links for you and your clients that we think would be helpful.

Tax laws in eight states may require taxpayers to return a portion of the rebates they will receive from the federal government later this year.Some states allow residents to deduct federal tax payments from their state taxable income, so as the federal tax goes down, the state tax will increase, thus creating a tax on the rebate.According to the Federation of Tax Administrators, the states where the potential tax on federal tax rebates may occur include:IowaOklahomaLouisianaMissouriMontanaNorth DakotaOregon

Deloitte & Touche's Human Capital Advisory Services practice has published a free 44-page booklet that examines the retirement issues associated with the new Economic Growth and Tax Relief Reconciliation Act.The new act makes significant changes to rules regarding retirement plans, simplifying some of the many regulatory complexities and expanding opportunities for saving and portability."These new retirement plan changes can offer some valuable tools to enhance your retirement plans in ways to attract and retain your needed workforce and to increase the retirement security for th

Rather than taking the time to scrutinize every taxpayer's withholdings to date to find out who actually qualifies for the impending tax rebate, the IRS will send rebate checks of $300 to $600 to everyone who paid taxes in 2000 and filed their tax return on time.If it turns out that some people who stopped working in 2001 receive rebates for taxes they didn't pay, well, these people can consider the money a gift from the federal government.Analysts es

High-tech firms are not pleased with all the aspects of the tax cut that was agreed to over the past weekend.

Late Wednesday, the Senate passed President Bush's $1.35 trillion tax cut, a colossal program that will be phased in over 11 years.