IRS publication 17 contains information and rules regarding filing income tax returns, income classifications, gain and loss reporting and adjustments to income that matter. Other information includes standard deductions, how to figure out taxes and credits, the tax table, rate schedules and the computation worksheet.Continue Reading
The income tax return section gives information on filing, status of the filing and withholding tax. Estimated tax and dependants information is inclusive in the section, as well. The income section gives information on taxation of tip income, wages, salaries, interest income and pensions, among others. The gain and losses section entails information on the basis of property, sale of property and how to report gains and losses. Alimony, education-related adjustments and IRAs are covered under adjustments to income.
Standard deductions, interest expenses, contributions, miscellaneous deductions and limits on itemized deductions are among those covered under standard and itemized deductions. Tax brackets, child and dependent care credit, education credit, EIC, PTC and other credits come under figuring out taxes and credits. Other information included is the tax tabulated format, the computation worksheet and the present tax rate schedules. The rights that accrue to any taxpayer, an index to guide and information on how to get help is also included. Explanations and examples of different taxable situations are given in the PDF format of the document.Learn more about Software