IRS Web site now provides 2008 tax guide

WASHINGTON — The IRS has placed its tax guide for individuals on www.irs.gov, updating it for the 2008 tax year. The updated on-line version of IRS Publication 17, “Your Federal Income Tax,” contains more than 900 interactive links. Publication 17 has been updated with changes for 2008, including information on the new recovery rebate credit, new first-time-homebuyer credit, and an additional standard deduction for real estate taxes. As in prior years, the publication provides information on how to file an individual tax return, what to include as income, how to calculate capital gains and losses, how IRAs and other expenses can affect how much income to report, whether to take the standard deduction or itemize, and how to figure taxes and credits. To get IRS Publication 17, go to www.irs.gov. and enter “17” in the search box in the upper right corner of the home page. Those without Internet access can call 800-829-3676 to request a free copy. Printed copies will be available in January 2009.