Tax Law Blog | IRS Tax Attorneys

Unfortunately for some, any joy about a new tax break is tempered by the fact that it was created because they were having trouble paying their mortgages.

On a more positive note, another new law now allows some homeowners to deduct a common insurance cost.

A similar good news/bad news theme runs through other 2007 tax legislation.

A last-minute compromise on Capitol Hill granted millions of taxpayers a reprieve from the costly alternative minimum tax. But at the same time, the law means millions might have to wait to submit their returns and get any refunds.

And while one law made it easier for some to give to their favorite charities, another will have some philanthropic filers scrambling to find receipts.
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