September 29, 2011 2:41 pm

Revamped IRS Web Site

The IRS web site has a new look designed to be more user friendly. Tabs and topics have been reshuffled for accessibility. There’s a new social media section to view IRS YouTube videos and easily link to IRS podcasts. News items are displayed on the landing page; the old format only had a link to the newsroom. The site also has a multinational gateway for those seeking information in Spanish, Korean, Russian, Chinese, and Vietnamese.

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Tax Glossary

Market discount

The difference between face value of a bond and lower market price, attributable to rising interest rates. On a sale, gain on the bond is generally taxed as ordinary income to the extent of the discount.

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