Income Tax Fundamentals 2011

New Features

* The 2011 Edition will be updated to reflect the following tax changes and anticipated tax changes for tax year 2010. Due to the back-up of tax bills in Congress, any bills affecting 2010 which are not passed when we go to press will be covered in detail on the Whittenburg website.

* The two health care reform acts signed into law in March of 2010 (the Patient Protection and Affordable Care Act, and the Health Care and Education Reconciliation Act) contain numerous tax provisions. The text will highlight several of the most prominent tax changes for 2010 and future years.

* The HIRE Act became law in March of 2010, with tax provisions to help the unemployed and an extension of the 2009 Section 179 expensing rules to 2010.

* As of September 2010, Congress has tax bills under consideration which will affect numerous 2010 tax laws retroactively, including the likely extension of the sales tax deduction, the standard deduction for property taxes, the qualified tuition deduction, and bonus depreciation. The president's proposed budget includes the extension of the 2009 Alternative Minimum Tax (AMT) exemption amounts to 2010. This change is likely to pass before year-end since the law as it currently stands will force an estimated one in five taxpayers to pay AMT for 2010.

* Among the provisions passed in prior years which affect 2010 are the complete elimination of the phase-outs for itemized deductions and exemption deductions. The elimination of phase-outs is expected to be in effect for the 2010 tax year only, with reinstatement in 2011.

* The end-of-chapter questions, all tax return problems, test bank problems, and internet quizzes will be updated for relevant new law changes as well as the dozens of standard changes due to yearly cost of living increases for tax rates and phase-ins and phase-outs of tax benefits.

* New Test Bank Questions: Approximately 100 new multiple choice questions will be added to the test bank. Additional Features

* The tax equation is referenced and emphasized on the quick tax reference guide inside the back cover.

* An additional set of interactive internet quizzes provides expanded self-study problems. The interactive quizzes are on the companion website.

* H&R Block's popular "At Home" software as well as RIA Checkpoint tax research software both come with each new copy of this text.