7 new tax laws to know

Facing a struggling economy, lawmakers in Washington, D.C., turned to the tax code to help get it, and us consumers, moving again. Most of the tax changes were part of the stimulus package enacted last February, the American Recovery and Reinvestment Act of 2009. There are seven new tax laws you should know, and some old tax laws with new amounts adjusted for inflation.Bankrate’s 2010 Tax GuideTax tips and toolsHow do I … ?Filing and refundsReal estate and capital gainsFamily and educationOn the jobInvestments and retirementCharitable givingYour state taxes<< All guide content

Tax breaks were created, or in some cases expanded, for autos and home purchases, as well as for certain residential improvements. Uncle Sam now pays more of some educational costs. Some workers get bigger tax benefits to offset their commute to work. Folks who no longer have jobs at least get some tax relief. Even how you pay your IRS bill could turn into a deduction. [Read the full article]

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