Tax Tip: What's New for 2000 Taxes?

Do you 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."

View more tax tips!


This daily Tax Tip has been provided by the IRS

You may like these other stories...

OECD calls for coordinated fight against corporate tax avoidanceDavid Jolly of the New York Times reported that dozens of countries with the most advanced economies have agreed on principles for concrete action to prevent...
Plan ahead before you buy some shares in a stock mutual fund near yearend, when the fund is about to pay a dividend. It might be better to wait until after the fund goes "ex-dividend," that is, wait until after the...
AgFeed agrees to pay $18 million to settle SEC accounting fraud caseMichael Rapoport of the Wall Street Journal reported on Monday that AgFeed Industries Inc. has agreed to pay $18 million to settle US Securities and...

Already a member? log in here.

Upcoming CPE Webinars

Sep 18
In this course, Amber Setter will shine the light on different types of leadership behavior- an integral part of everyone's career.
Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.