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.

Tags: Business, Self-Employment, Tax Returns, Wages

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Tax Glossary

Deductions

Items directly reducing income. Personal deductions such as for mortgage interest, state and local taxes, and charitable contributions are allowed only if deductions are itemized on Schedule A, but deductions such as for alimony, capital losses, moving expenses to a new job location, business losses, student loan interest, and IRA and Keogh deductions are deducted from gross income even if itemized deductions are not claimed.

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