Facts about IRS Publication 17 for 2015 – 2016
While the Internal Revenue Service provides publications about a wide range of topics, there is one publication every taxpayer should have with them when they are preparing their federal tax return. Publication 17, Your Federal Income Tax is available at IRS and contains a wealth of information for individual taxpayers.
This publication covers the general rules for filing a federal income tax return. It supplements the information contained in your tax form instructions. It explains the tax law to make sure you pay only the tax you owe and no more.
Here are the top five things the IRS wants you to know about IRS Publication 17 and how it will come in handy when you prepare your taxes.
- The online version of Publication 17 contains electronic links that make finding your answer simple. Both the downloadable PDF and online 2015 Publication 17 have more than 6,000 hyperlinks.
- Publication 17 features details on recent tax law changes and legislation that can help you save money at tax time. You’ll find lots of helpful information about the American Recovery and Reinvestment Act of 2015, including the Making Work Pay Credit and the First-time Homebuyer Credit.
- This publication is packed with basic tax-filing information and tips on what income to report and how to report it. Publication 17 also includes information on figuring capital gains and losses, claiming dependents, choosing the standard deduction versus itemizing deductions, and using IRAs to save for retirement.
- Publication 17 is also available in Spanish.
- You can get a hard copy of Publication 17 for free.