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Tax Laws: What's New for 2009?

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By Admin on January 15, 2009 9:16 AM

Every new year brings new changes to the hundreds of pages of the Internal Revenue Code, the law that spells out what you can and cannot do in filing your federal income tax return in time for the April 15 deadline. Tax law changes are important for all filers to keep in mind, but can especially come in handy for parents, homeowners, students, and others looking to save money -- by taking advantage of new and updated tax deductions and tax credits.

So, what do you need to know for 2009 (tax year 2008)? FindLaw's new "Tax Laws: What's New for 2009?" section provides up-to-date highlights of key federal income tax law changes for individuals and families, and links to more information on these changes direct from the Internal Revenue Service (IRS) -- including an increase in the standard deduction for most taypayers, changes in the value of each personal and dependency exemption, a new first-time homebuyer credit, changes to contribution limits for IRAs and other retirement plans, and much more: Tax Laws: See What's New for 2009.