Dozens of Tax Changes Take Effect in 2002 Under New Law
The sweeping 2001 tax cut broadens reliefs with a new 10 percent tax rate for lower brackets, higher child tax credit, boosted IRA and 401(k) limits, expanded education accounts, and larger estate and gift tax exemptions. IRS urges e filing to speed processing. rebates already mailed. Historic reform details include 529 plans and Coverdell limits, plus catch up contributions for older savers. The changes affect millions of filers as ปี 2002 begins.
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Washington
Congress
Bush
H&r Block Inc
Mark A. Ernst
H&r Block
John W. Roth
CCH Inc
Roth
Taxes A Guide to Free IRS Help and Resources
Taxpayers can access free filing help, forms, and information via the IRS site at irs.gov or by phone. Key numbers include 1 800 829 4477 for recorded tax information, 1 800 829 1040 for IRS staff assistance, and 1 877 CD FORMS 233 6767 to order 2500 federal forms with a $5 handling fee. Practitioner Priority Service is 1 866 860 4259.
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Internal Revenue Service
Irs.gov
IRS
Taxpayer Advocate Service
IRS pushes for computers and automation in tax filing
The IRS aims to shift filers toward electronic returns and automation. Commissioner Charles Rossetti says substantial progress is visible with about 45 million returns to be filed electronically in 2002, and 132 million personal returns by April 15. The agency plans interactive online tools for professionals, expanded live assistors, and better phone access, while maintaining limited but improving telephone service.
MENTIONED IN THIS ARTICLE
Internal Revenue Service
IRS
Charles Rossetti
Rossetti
Curt Anderson
Washington
Keep teens from credit catastrophes through guidance
Parents should counsel teens on credit card basics before they receive “student card” offers. Banks push entry level cards with guarantor parents, high interest, and vague penalties. Begin economics lessons, set limits, and choose beginner cards with small limits and accountable terms to teach responsible usage.
Insurance basics for homeowners and life coverage
Practical guidance for households balancing home and life insurance costs. Compare rates and ratings, prefer bundled policies, set higher deductibles to save, and review every two years. Assess debt, income, burial costs, college needs, and future retirement to tailor a policy. Consider shops for targeted coverage and avoid pricey add-ons.
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