October 17, 2008, Newsletter Issue #138: IRS Publications

Tip of the Week

IRS Publications are informational booklets designed to make your understanding of the tax laws and regulations easier. They are intended to provide you with insight into the whys and hows of various tax areas.

You can order any available IRS Publication the same way you would IRS tax forms. Phone, Internet, download, CD-ROM, pick up – are all available methods for obtaining an IRS Publication. You also can simply view IRS Publications online. Your computer needs to have Adobe Reader, however. The documents are in PDF format.

Topic areas are extensive and widely varied. Any tax area will probably have a publication associated with it. Visit the IRS website under Forms and Publications to get a feel for all that is available. Here you can find both the Publication, Notice number and document title.

Some of the more popular IRS Publications are:

Publication 1 – Taxpayer’s Rights

Publication 15 – Employer’s Tax Guide (also known as Circular E)

Publication 17 – Your Federal Income Tax (for individuals)

Publication 334 – Tax Guide for Small Businesses

Notice 433 – Interest & Penalty Information

Publication 501 – Exemptions, Standard Deductions, and Filing Information

Publication 502 – Medical and Dental Expenses

Publication 503 – Child and Dependent Care

1040 Tax Table

IRS Publications may change yearly (they are updated with current tax laws). It is recommended you start a library for future reference purposes. For businesses, in particular, Publication 15 (Circular E) is necessary for proper payroll tax reporting information.

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