EY Tax Guide 2012 Now Available
New York, 29 November 2011 - The EY Tax Guide 2012 is now available online and in book stores, a favorite among do-it-yourself filers and professional tax return preparers for 27 years. Packed with tax tips and information on tax law changes, readers will find everything they need to prepare for the 2011 filing season.
"Financial planning in a changing tax environment is the new normal," said Greg Rosica , an Ernst & Young LLP Tax Partner and contributing author to the EY Tax Guide. "Tax reform will impact individual taxpayers and small business owners, so planning for potential scenarios is critical to managing uncertain situations. A resource like the EY Tax Guide can help taxpayers stay aware of the issues and plan accordingly."
New to this year's guide is a summary of expiring tax provisions and important 2011 tax reminders. Readers can also access up-to-date information about tax law changes and can receive tax alert emails through the companion website – ey.com/EYTaxGuide.
"Bush tax cuts are set to expire at the end of 2012 even if tax reform fizzles, which leaves about a year to plan accordingly," said Rosica. "Consider your portfolio allocations, current estate plans, business succession planning and charitable gift giving in your financial analysis."
Year after year, the EY Tax Guide (Ingram Publisher Services; $19.95 , 985 pp.) is praised by critics as one of the best tax preparation resources available, assisting families, entrepreneurs, investors, homeowners, senior citizens and military personnel file their taxes accurately.
"Taxpayers who reference the EY Tax Guide and its companion website may be able to recognize more useful deductions and tax breaks, while avoiding common filing errors," said Rosica. "Receiving automatic tax alerts is extremely beneficial in an environment of uncertain tax reform."
Included are two books in one – Publication 17 – Your Federal Income Tax, the official Internal Revenue Service tax guide, and the EY Tax Guide 2012 – to provide well-rounded tax information. This combination offers the IRS position on many of the questions taxpayers face, as well as EY's comments, explanations, and tax-saving tips.
Helpful information within each chapter includes:
- TaxSavers: tips to reduce your tax bill legally this year and next
- TaxPlanners: ideas to better plan for the upcoming year
- TaxAlerts: tax rules and regulations that changed recently or may change in the near future
- TaxOrganizers: steps to take now that can make tax filing easier
The Guide incorporates valuable tools, such as the 50 most overlooked tax deductions, enhanced coverage of the alternative minimum tax (AMT) and the estate and gift tax, the 25 most common tax-filing errors, green tax breaks and incentives, and over 1,000 money-saving tax tips.
The information contained in this press release is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to readers. No information in this release was intended or written to be used by readers for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Readers are cautioned that this material may not be applicable to, or suitable for, their specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. Readers are encouraged to consult with professional advisors for advice concerning specific matters before making any decision, and Ernst & Young LLP disclaims any responsibility for positions taken by taxpayers in their individual cases or for any misunderstanding on the part of readers. Ernst & Young LLP assumes no obligation to inform readers of any changes in tax laws or other factors that could affect the information contained herein.
EY is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. For more information, please visit www.ey.com.
EY refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
This news release has been issued by Ernst & Young LLP, a client-serving member firm of Ernst & Young Global Limited in the U.S.