October 18, 2010 12:00 am

Understanding the IRS?

It may become easier following enactment of the Plain Writing Act of 2010. Signed into law on October 13, 2010, it requires the IRS to translate its documents into “plain writing” within 1 year. Plain writing means language that is clear, concise, well organized, and follows other best practices appropriate to the subject.

Source: H.R. 946

Tax Glossary

Retirement savers credit

Eligible taxpayers may claim a tax credit for 10%, 20%, or 50% of up to $2,000 of retirement plan contributions.

More terms