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IRS updates Pub. 17, “Your Federal Income Tax”

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in Small Business Tax

The IRS has produced an updated version of Publication 17, Your Federal Income Tax, its longstanding basic guide for individual taxpayers. Pub. 17 covers a multitude of tax issues ranging from simple filing status items to more complex tax matters. It also includes a summary of major tax changes taking effect with 2013 returns such as the new 3.8% Medicare surtax for upper-income investors and the increased maximum tax rates for ordinary income, long-term capital gains, and qualified dividends.

But the IRS also says that it is ending its longstanding practice of publishing a wall calendar of important tax return due dates.

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