It's a full time job keeping up with tax changes and news.

In fact, remember Isaac Asimov, who was as famous for his photographic memory and his humility? He once wrote in one of his monthly columns for Fantasy & Science Fiction magazine, (paraphrased) "I am at least as intelligent as my tax advisor. So, I should have no trouble understanding the tax laws.

But if I were to concentrate my energies towards learning everything I needed to know, the world would be deprived of many of my books."

Although things are quite complicated, these tax tidbits will help you keep abreast of the the news.

Meanwhile...

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2005

• New redesign of IRS Website
• Six-Month Automatic Extensions in 2006
• IRS Certifies Ford and Mercury Hybrid Vehicles for the Clean-Fuel Deduction
• 2006 Inflation Adjustments Widen Tax Brackets, Change Tax Benefits
• Tax Break for Nonresident Aliens Working in US or for US Source Businesses.
• IRS Announces Settlement Initiative
• 2006 Pension Plan Limitations Announced
• New Tax Law Eases Loss Limitations for Katrina Victims
• Excerpts from Statistics of Income
• Katrina Emergency Tax Relief Act of 2005
• IRS Announces Additional Agreements to Assist Disaster Victims
• Katrina Relief Workers Have Until Jan. 3 to File and Pay Taxes
• Tax Confusion Can Cost Students
• IRS Grants Tax Relief for Hurricane Katrina Victims
• Treasury Releases Regulations on Valuation of Annuity Contracts Involved in Roth Conversions
• Truckers, Take Note!
• Blowing the Whistle Can Lead to Harsh Aftermath, Despite Law
• IRS Receives Connect America Partner of the Year Award
• Reporting Compliance of S corporations
• Your Tax Dollars at Work - an Editorial
• Just, the Fax, Ma'am!
• IRS Statistics
• Audit Reconsiderations
• IRS Starts Team on Easement Abuses
• Tax Court Allows IRS To Pursue Collections While Taxpayer Files Appeals
• Court Overturns Arthur Andersen Conviction
• IRS Cuts Printing Costs
• Tax Things to Think About
• Help For Small Businesses Is Here!
• Understanding IRS Guidance- A Brief Primer
• IRS Offers Small Businesses New Retirement Plan Resource Guide
• Everyone Talks About Taxes - But No One Does Anything.
• Quickie Tax Tips
• Last Minute Tips from IRS and TaxMama
• Proper Travel Deductions
• Taxpayer Advocacy Panel
• IRS Head Speaks
• IRS Awards Grants to Tax Clinics
• Free help from the IRS
• Gift Giving
• Foreign Bank Account Publication Available in Multiple Languages
• Honda Hybrids Certified for Clean-Fuel Vehicle Deduction
• IRS to discontinue Telefiling
• What to Do If You Haven't Received a Form W-2
• IRS Offers Forms and Publications Online
• IRS Opens Doors to 2005 Free File Alliance
• New York Offers One Week Exemption on Clothing (1.14.05)
• Illinois Offers Internet Sales Filing (1.14.05)
• Alabama Taxes Interstate Trucks Used in State (1.14.05)
• Sales Tax Publication Updated (1.07.05)

2004

• Sales Tax Tables (12.17.04)
• Health Savings Accounts (12.17.04)
• Home Refinancing (12.17.04)
• Commuting Mileage (12.17.04)
• Holiday Gifts to Employees are Not Taxed Equally (12.10.04)
• IRS Simplifies FUTA Deposit Rules(12.03.04)
• IRS cracks down on Vehicle Donations (11.19.04)
• 2005 Mileage Allowance Rates (11.19.04)
• Unclaimed Refunds (11.19.04)
• IRS and Puerto Rico Announce Partnership(11.12.04)
• 2005 Social Security and Medicare Changes(11.05.04)
• Working Families Tax Relief Act of 2004 (10.01.04)
• 1065 eFile Program (9.17.04)
• Reimels v. Commissioner (Tax Court) (9.10.04)
• IRS Can Share Decedent's Tax Information With Beneficiaries (9.03.04)
• Treasury and IRS Issue Depreciation Regulations (8.27.04)
• IRS Examining Credit Counseling Firms (8.13.04)
• IRS Examining Compensation Levels of Exempt Organization Executives (8.13.04)
• Life Cycle of a Public Charity (8.06.04)
• IRS Releases Spring 2004 Statistics of Income Bulletin (7.30.04)
• New Taxpayer Account, Processing System Debuts (7.23.04)
• Settlement Award? Uncle Sam May be Waiting in Line (7.16.04)
• IRS Tax Tip - Tax Advice for the Working Student (7.09.04)
• IRS Tax Tip - Summer Day Camp (7.02.04)
• Congressional Update (6.25.04)
• IRS Is Hiring! (6.25.04)
• Uncle Sam Presides Over Same-Sex Marriages (6.18.04)
• IRS Is Hiring! (6.18.04)
• IRS has announced nationwide implementation of the EFTPS - FTD penalty refund offer (6.11.04)
• Your Tax Dollars at Work (6.04.04)
• Audit Reengineering (5.21.04)
• IRS & Treasury Ease Burden On Business Meal and Entertainment Expense Deductions (5.14.04)
• IRS Doesn't Conduct Investigations by E-Mail - Do Not Respond to Bogus Requests (5.09.04)
• FTB Double-Dips Into Taxpayers' Accounts (4.23.04)
• IRS Tax Tip - Appeal Rights (4.16.04)
• Extensions of Time to File Your Tax Return New! File by Phone (4.09.04)
• Shoot Off Your Mouth Where It Counts (4.09.04)
• Ten Ways to Avoid IRS Scrutiny (4.02.04)
• Are Your Tax Returns Being Prepared Off-Shore? (3.26.04)
• IRS Tax Tip - Deductible Taxes (3.19.04)
• Answers to Common Questions from the IRS (3.12.04)
• Treasury and IRS Shut Down Abusive Life Insurance Policies in Retirement Plans (3.05.04)
• IRS, States Move Forward In Fight Against Abusive Tax Avoidance (3.05.04)
• ITINs and Corrections (2.27.04)
• Education Tax Breaks to Become Permanent? (2.20.04)
• Taxability of Social Security Benefits (2.13.04)
• E-Filing Alert From the IRS (2.06.04)
• More Cars Certified for Clean-Burning Fuel Deduction (1.30.04)
• E-filers Pin E-Signatures to Forms (1.23.04)
• Making Family Limited Partnerships IRS Friendly (1.09.04)
• Health Savings Accounts ­ IRS Notice 2004-2 (1.05.04)

• 2004 Filing Locations Now Available Online (12.19.03)
• IRS Issues Nearly 500,000 EINS Online (12.19.03)
• New Tax Guide Available at IRS.gov (12.12.03)
• Taxpayers Must Update Addresses by Dec. 5 to Receive Child Credit Checks This Year (12.05.03)
• Armed Services Tax Fairness Act (11.21.03)
• Individual Required to Include Sole Proprietorship's Schedule C Profits in Income (Wood, TCM) (11.14.03)
• Internet Tax Is Up For Discussion Again (11.07.03)
• Tricky Tax Moves Can Boost Profits (10.31.03)
• 2004 Pension Plan Limitations Announced (10.24.03)
• IRS Turns 90 (10.17.03)
• 2004 Standard Mileage Rates Set (10.17.03)
• Court Cases of Interest [They're fun to read about] (10.10.03)
• IRS Issues Guidance on Additional First-Year Depreciation Allowance (10.03.03)
• Illinois Demands Taxes from Net Retailers (9.26.03)
• Tax-Break Measure On Charitable Giving Is Passed by House (9.19.03)
• New Services Replace Distinct EIN Hotline Number (9.12.03)
• IRS: Some Drugs Covered by Pre-Tax Dollars (9.05.03)
• IRS Selects New Privacy Advocate (8.29.03)
• News from All Over (8.22.03)
• IRS - Today - it's BLASTER NEWS (8.16.03)
• Tax Amnesties
• IRS Gives Public Access to Political Docs
• EFTPS - OnLine Gets Major Upgrade
• IRS Issues Notices to Advance Child Tax Credit Recipients
• State Fees Rise
• New Deductibility Options Available for Family Day Care Providers
• Beware of Tax Scams ...
• CBPP Analyzes House GOP Child Credit Bill
• Taxpayers to Receive Advance Child Tax Credit This Summer
• Highlights of the Jobs & Growth Tax Relief Reconciliation Act of 2003
• Military Families Are Targets of Latest Tax Scams
• Senate Republicans Fight Off Attempts to Alter Tax Package
• After Inflating Their Income, Companies Want IRS Refunds
• Tattoo Taxes?
• House Passes Tax-Cut Bill (4/11/03)
• Beware of Abusive Employee Leasing Arrangements
• Military Action Upsets Taxes as Well as Lives
• Senate approves tax breaks for troops, reservists House passed similar measure
• California to Study Web Sales Tax
• Deductible Taxes
• New Form to Report Suspicious Activity
• Beware of Scams, Unscrupulous Preparers
• Taxable or Nontaxable?
• IRS Reduces Burden For Family Day Care Providers
• States Could See Higher Taxes Despite Pledges by Legislators
• Lifetime Savings Accounts (A Proposal by President Bush)
• Retirement Savings Accounts
• Accounting Firms Face Backlash Over the Tax Shelters They Sold
• Good News About Offices In Home
• Summary of 2002 Tax Law Changes For Individuals
• National Taxpayer Advocate's Annual Report
• Bush's Ecomonic Plan - Some Observations

• IRS Eases Tax Rules for Home Sellers
• The Non-Taxpaying Class
• Talking Tax Forms ????
• IRS Web Site Helps Taxpayers Find Undelivered Refund Checks
• TaxMama's Tax Tips for 2002
• Free Money From Uncle Sam
• IRS, preparers sign off on free electronic tax filing
• Code Changes to be Sought After Election
• Social Security Update
• IRS Announces new Pension Plan limitations for 2003
• IRS Seeks 'Limited' Information From Companies to Identify Tax Cheats
• House Preps Investor Relief Tax Bill
• Tax Credits Unclaimed By 600,000
• Tax Assistance Centers Opening Later
• Good News for Schedule B Filers
• IRS Reduces Standard Mileage Rate
• No Tax Package in 2002, Says Lott
• New Designated Private Delivery Services (PDSs)
• Missouri Tax Amnesty Program Now in Progress
• Estate & Gift Unveils Toll-Free Account Service
• Home Sale Exclusion For Those Affected By 9/11
• Free Tax Preparation for 60% of Taxpayers, Courtesy of the Bush Administration
• Deductions for Worthless Securities: What's It Worth to You?
• Everyday Tax Solutions
• New Company Formed to Remedy Identity Fraud
• Bush Signs Trade Bill That Includes Health Care Tax Credits
• The Information Congress Gets to Make Their Decisions
• Lawmakers Reach Accord on Corporate Reform Bill
• Anti-Fraud Body Calls for New Actions to Fight Corporate Fraud
• Taxpayer Advocate's Annual Report
• House Passes New Bill to Counter Corporate Frauds
• Bush Calls for "A New Ethic," Gets Tough on Corporate Corruption
• Supreme Court Gives IRS Big Win in Restaurant Tip-Reporting Case
• Random Audits are Back - With a Vengeance
• IRS Announces Extension of FICA and FUTA Tax Moratorium
• IRS will crack down on abusive corporate tax shelters
• Bill Would Preempt Local Taxes on Satellite Radio
• Free Tax Software For You?
• Tax Talk Today
Tax Credit for Donations to Schools?
• Thinking of Renting or Selling a Vacation Home?
• Making The Grade - IRS Gets A B
• Estranged Spouses Didn't “Live Apart” for Tax on Social Security Benefits
• IRS Offers Grants to Professionals For Low Income Tax Assistance
• House GOP Postpones Vote on Marriage Penalty Relief
• West Virginia Governor Approves Sales Tax Holiday
• Be Alert for Identity Theft Scam
• Tax Returns Sent to Incorrect Processing Center
• Congressional Update on Bankruptcy Reform
• IRS Mistakenly Paid Out $30 Million of Slavery Tax Claims
• Supreme Court Says IRS Claim Overrides State Law
• Jon Creation and Worker Assistance Act Tolls The Statute of Limitations
• Tax Strategies to Help You in 2002
Lighthearted Look at an Infamous Date (excerpts)
• Deadline Nears for Ministers Who Wish to Revoke Self-Employment Tax Exemption
• IRS Softens Requirements for Contribution Documentation
• TaxMama Alert - File An Extension Now!
• VISA Comes Aboard IRS Credit Card Program
• Home-Based Business Tax Schemes
• Tobacco Settlement & Buyout Payments Taxable for 2001
• The Job Creation and Worker Assistance Act of 2002
• Combat Zone Email Address Is Now Available For Use By Members of the Armed Forces Worldwide
• Good News! Frequent Flyer Miles
• Capital Gains and Losses
• Tips and Taxes
• Child and Dependent Care Credit
• Toll-Free Numbers
• Taxpayer Rights A Priority For IRS
• Should I Itemize?
• Avoid Headaches, Prepare Taxes Early