Comprehensive Tax Guide Available at IRS.gov

WASHINGTON - The IRS comprehensive tax guide for individuals has been updated for tax year 2003 and is now available at IRS.gov. IRS Publication 17, “Your Federal Income Tax,’ has been published annually by the IRS for more than 60 years and has been available on the IRS Web site since 1996.

Publication 17 has been updated with important changes for 2003, including tax breaks for men and women serving in the military resulting from the Military Family Tax Relief Act of 2003, which was signed into law on Nov. 11. Among other changes, Publication 17 explains the new dividend tax rates and provides the new lower income tax rates.

As in prior years, the publication provides information on how to file an individual tax return, what to include as income, how to calculate capital gains and losses, how IRAs and other expenses can affect how much income to report, whether to take the standard deduction or itemize, and how to figure taxes and credits.

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