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Every year, in the US, we have new tax rules, deductions, limit increases/decreases, exceptions, benefits, etc. Are there some good resources out there for self education on what to expect with the new upcoming year? I am looking for maybe a few good websites or information portals that help bring some sanity to understanding upcoming changes year to year.

There are so many tax laws, rules, and exceptions every year that I don't think even tax experts fully comprehend tax law sometimes.

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    This is a tough one. I've resorted to asking several accountants, but then I get several conflicting answers. – James Roth Sep 15 '10 at 17:10
  • are you looking for someone who knows what will happen, or someone who can point you to a resource to find out what has happened? Considering Congress is currently debating what to do with tax rates, for example, what will happen seems to be very opaque. – justkt Sep 16 '10 at 15:00
  • @justkt: This is for what has happened and the actual changes taking place for a particular year. No one knows for sure what will happen in the future and that would not be much of a question other then speculation and subjective opinion answers. – Troggy Sep 16 '10 at 18:44
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Fairmark - I am hard pressed to find a better laid out snapshot of our (US) standard deduction, exemption, tax rates, retirement account limits, and FICA maximum. They publish the numbers as soon as they are official. Take a peek, and let me know. Disclaimer - I have no association with Fairmark other than an appreciation of their site.

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The IRS 1040 instruction booklet (PDF link) always includes a "What's New" page towards the beginning which is incredibly handy, concise, and written in surprisingly clear language.

  • This is an important link. It would be a good idea to have the 2011 version included too, once it becomes available. But this link shouldn't be changed, as it remains an important reference source on an on-going basis. What are the steps required to make this answer a Community Wiki? I'm not saying that just because it is Joel's answer. – Ellie Kesselman Nov 4 '11 at 22:28

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