News and Facts on Tax

2009 required minimum distributions

This notice provides guidance relating to the waiver of 2009 required minimum distributions, described in $ 401(a)(9) of the Internal Revenue Code ("Code"), from certain plans under the Worker, Retiree, and Employer Recovery Act of 2008 ("WRERA"), P.L. 110-458.

Applicable Federal Rates for October - Rev Rul 2009-33, 2009-40 IRB

Disaster Victims in Georgia Qualify for Tax Relief

IRS has announced on its website that victims of the recent severe storms and flooding in counties of Georgia that are designated as federal disaster areas qualifying for individual assistance have more time to make tax payments and file returns. Certain other time-sensitive acts also are postponed. This article summarizes the relief that's available and includes up-to-date disaster area designations and extended filing and deposit dates for all counties and states affected by storms, floods and other disasters in 2009.

Tax Planning - Tax Saving Moves for the Rest of 2009

Year-end tax planning could be especially productive this year because timely action can nail down a host of tax breaks that won't be around next year unless Congress acts to extend them.

Tax brackets and other key 2010 items as calculated by RIA based on inflation data

The standard deduction, exemption amount, and individual tax rate brackets are adjusted annually for cost-of-living increases. The adjustments are based on the average Consumer Price Index (CPI) for the 12-month period ending the previous Aug. 31. The Aug. 2009 CPI has been released by the Labor Department. (U.S. Department of Labor, Consumer Price Index (for all-urban consumers), 9/16/2009) Using the CPI for Aug. 2009, released on Sept. 16, 2009 (and the preceding 11 months), RIA has calculated the increases to these and other important tax items for 2010 as set forth below.

Latest news

November, 2011 - Tax Law Update/November 2011

Income and Estate tax legislation are ever-evolving and there are a number of important planning opportunities to explore prior to year-end as well as looking ahead to 2012...