RIA handbook

[erchess]

I received the 2008 RIA handbook last week and I have to say that I am speechless. How on earth can anyone publish a 2008 tax handbook while Congress has not finalized the laws yet? I''m almost afraid to open the thing because with my luck whatever I read will be in error. Am I overreacting?

[Bees Knees]

There is a possibility Congress and the President are going to bicker over things until well into tax season. We could see another situation where a tax bill is signed into law in March of 2008 that is retroactive back to January of 2007. It happened in March of 2002 with the Special Bonus Depreciation and NOL carryback after the 9/11 terrorist attacks. It can happen again.

If that happens, the only publication that will update its 2007 version will be TTB WebCD through its update feature.

[Bees Knees]

BTW, TTB was the only publication to include a supplement for their 2006 version that covered the extenders bill passed by Congress on December 9, 2006 that extended the Tuition and fees deduction, the Sales Tax deduction, and new AMT and HSA rules. Neither QF, nor CCH, nor the IRS 1040 instructions included that information in their 2006 version. This year, TTB guarantees to cover any legislation passed by December 1st. Of course the WebCD version will be updated throughout the year for new stuff.

[VT-EA]

Why wait for info?

Immediate info on what congressional tax action or proposed action means is available at:

http://www.house.gov/jct/pubs07.html

You have to decide which end of the horse is in action!

[Bees Knees]

Immediate info on what congressional tax action or proposed action means is available at:

http://www.house.gov/jct/pubs07.html

You have to decide which end of the horse is in action!

Cab you translate all of that into English for us?

Which ones will pass and which ones will be left out of the final bill?

What changes will be made to those bills in the final compromise version that they are now arguing about in conference?

[joanmcq]

This kind of crap by our fine elected representatives is why I always take the very latest tax update class I can; usually late january. At least then Spidell will have handouts updating the class with the absolute latest stuff thrown out by our gov.