Tax Law Changes for 2011, 2012

There are 21 main categories of new tax law changes on the IRS web site and when you click on each heading a new page opens with, yes you guessed correctly, many sub headings.

Exemption Amounts Increased and Some Tax Credits Decreased

Some things went up and some things went down. I know that’s not the type of information you were looking for. Who can keep up with all of the tax law changes? I will give you some of the headlines and then, you can go explore for further information pertaining to your particular area of interest.

Just the Tip of the Iceberg for Tax Law Changes

• There are several changes affecting Alternative Minimum Tax.
• Child Related Tax Changes (What’s new concerning adoption, Child investment income, earned income for additional child tax credit.)
• Decreased Estimated Tax Payments for some small businesses.
• Earned Income Credit Changes.
• Purchase of New Motor Vehicles
• Health and Medical Related Tax Changes
• Home Related Tax Changes

You Get the Idea

Perhaps you’re searching for tax law changes to see what new tax laws will affect you personally. You can visit the IRS web site and read through the text or you can use tax software to actually see how the new tax law changes will affect your income tax return. Have you ever noticed how the rules are based on stipulations and certain criteria?

You can claim the credit if you earn between this and this amount and have three kids, bought a new house, and a hybrid vehicle. If you want to truly estimate your taxes you should visit TurboTax Online.

Looking for More information About Tax Law Changes?

Here’s where it all comes together. You go to TurboTax Online and click on the Tax Calculators & Tips tab. You can try this for free by the way.

The tax software will ask you easy questions about marriage, income, dependents, and the other typical tax questions. If you like graphical icons to help point the way through the process then you’re in for a real treat. You can see exactly what you should do. They have icons to help along with text and helpful tips that guide you as you answer questions.

Let the Tax Experts Guide You Through the Tax Law Changes

If you don’t want to be audited for a faulty tax return you should use the tax software from TurboTax Online. They will do the math for you and guarantee its accuracy. If you should get hit with an IRS or state penalty or interest because of a TurboTax calculation error, they will pay you the penalty and the interest. TurboTax Online also has a Solve it Center which is a great resource for any questions you may have. Tax Experts are just a click away waiting to give you the answers you need!