Between the Congress, the courts and the IRS itself, practitioners may be facing a record year for new information to absorb. The two recently passed tax acts alone created major shifts in many areas and subtle changes in others that are sure to trip up the uninformed and unwary. In the latest issue of the CCH CPE Credit Service, Sidney Kess and Barbara Weltman look at the year’s new developments and outline the most significant changes impacting 1040 clients and their 2004 tax returns. They highlight the major changes and provide planning pointers to help you make sure your clients get the most out of the new tax benefits while avoiding some new pitfalls.
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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.
Read this article from CCH’s Journal of Taxation of Financial Products.