I've taken a break from the stock market over the last week to study up on the new tax laws for 2007. There are several significant changes to the tax code for 2007 and I have created a series of articles that will soon be published on Associated Content including a summary of the most popular (or not so popular) changes. There are typical changes that make adjustments for inflation, but there are also changes that affect when you can file your taxes or qualify you for benefits you may have not been qualified for in the past.
The amount of tax code and laws are enormous and until it is simplified it is difficult to stay current on the changes that occur each year. Being informed of your benefits and responsibilities can be daunting. I have included the more significant changes in this article. Refer to www.irs.gov for a complete listing of all the changes for the 2007 tax year. Use caution when using commercial software when filing your 2007 taxes. Many of the changes happened toward the end of 2006, after software was already written. This is the primary reason for the IRS delay in accepting many returns until
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