Internal Revenue Service Publication 17, Your Federal Income Tax, is a guide to each step of an individual federal income tax return. This publication explains tax laws, including explanations of new laws for the 2010 tax year, and deductions that have expired and can no longer be taken.
The hope is that the publication will help taxpayers to understand their taxes, and help them to pay only what they owe and not a penny more.
These are some of the things the IRS wants people to know about Publication 17:
- You can get to it online: Publication 17 can be accessed online at www.irs.gov.
- It is full of tax filing information and tips: Publication 17 will tell you what income to report, and how to report it.
- The online version links to other publications: Wherever information is cross-referenced, you can link directly to the other sources directly from Publication 17. The links are in the online version and the downloadable PDF.
- You can get a free hard copy: A printed version of Publication 17 is available for free. You can order it at www.irs.gov or call 800-TAX-FORM ((949) 751-6456).
- It has information on many tax topics: Publication 17 has information on choosing the standard deduction versus itemizing deductions, claiming dependents, figuring capital gains and losses, and how to claim valuable tax credits.
- You can get it in Spanish: Publication 17(SP) El Impuestos Federal sobre los Ingresos is the same document, translated into Spanish.
Orange County tax attorneys recommend that all taxpayers become as knowledgeable as possible on all matters related to their taxes.
Source: irs.gov “Six Facts about IRS Publication 17” 2/11/2011