IRS Announces 2008 CostofLiving Adjustments

written on December 12, 2007 by William Riccio

Rate this Article

  • 1
  • 2
  • 3
  • 4
  • 5

Related Items

2013 Federal Standard Mileage Rates
written on December 04, 2012 by William Riccio
Ohio Minimum Wage Rate Increase for 2013
written on November 01, 2012 by William Riccio
Social Security Wage Base Increases for 2013
written on October 17, 2012 by William Riccio
New Restrictions to Employer Identification Number Requests
written on June 01, 2012 by William Riccio
2013 Health Savings Accounts Inflation Adjustments
written on May 24, 2012 by William Riccio
2012 Federal Standard Mileage Rates
written on December 21, 2011 by William Riccio
Changes to Ohio Charitable Registration
written on December 21, 2011 by William Riccio
Ohio Minimum Wage Rate Increase for 2012
written on November 04, 2011 by William Riccio
Social Security Wage Base Increased for 2012
written on October 27, 2011 by William Riccio
Updated 2011 Federal Standard Mileage Rates
written on June 28, 2011 by William Riccio
2011 Tax Calendar
written on December 23, 2010 by Administrator One
2011 Federal Standard Mileage Rates
written on December 06, 2010 by William Riccio
Late Filing Penalty for Partnership Returns Increased
written on November 17, 2010 by William Riccio
Late Filing Penalty for S Corporation Returns Increased
written on November 12, 2010 by William Riccio
State of Ohio Sponsored Help Wanted and Job Seekers Online Resource
written on August 09, 2010 by William Riccio
IRS Seeks Public Comments Regarding Expanded 1099 Reporting Requirements
written on July 16, 2010 by William Riccio
Closing Deadline for First Time Homebuyer Credit Extended
written on July 09, 2010 by William Riccio
2010 Federal Standard Mileage Rates
written on May 25, 2010 by William Riccio
2011 Health Savings Accounts Inflation Adjustments
written on May 25, 2010 by William Riccio
Social Security Wage Base Remains Unchanged for 2010
written on November 05, 2009 by William Riccio
IRS Reports Record Number of eFiled Returns
written on November 05, 2009 by William Riccio
Latest IRS email Hoax
written on September 21, 2009 by William Riccio
Proactive Steps for Taxpayers who are Newly Married
written on July 20, 2009 by William Riccio
Deductibility of Job Search Expenses
written on July 13, 2009 by William Riccio
2010 Health Savings Accounts Inflation Adjustments
written on May 20, 2009 by William Riccio
2009 Health Savings Accounts Inflation Adjustments
written on May 18, 2009 by William Riccio
Changes to Ohio Sales Tax Filing Requirements
written on January 26, 2009 by William Riccio
2009 Federal Standard Mileage Rates
written on December 02, 2008 by William Riccio
Employment Tax Reporting Changes for Some Single Member Limited Liability Companies
written on December 01, 2008 by William Riccio
RollingAverage Inventory Method Now Allowed by Internal Revenue Service
written on October 01, 2008 by William Riccio
Mortgage Forgiveness Debt Relief Act
written on August 04, 2008 by William Riccio
IRS Reduces Extension Period for Certain Business Taxpayer Filings
written on July 09, 2008 by William Riccio
2008 Federal Standard Mileage Rate Revision
written on June 24, 2008 by William Riccio
IRS Reduces Businesses Tax Package Mailings
written on June 16, 2008 by William Riccio
Retirement Plan Options for Small Businesses
written on May 08, 2008 by William Riccio
IRS Stakeholder Liaison Assistance for Schedule C Filers
written on April 22, 2008 by William Riccio
Unclaimed Research and Development Tax Credits
written on March 17, 2008 by William Riccio
Business Benefits of the 2008 Economic Stimulus Act
written on February 26, 2008 by William Riccio
2008 Economic Stimulus Plan Forces Seniors to File In Order to Receive Rebates
written on February 18, 2008 by William Riccio
Newly Improved Publication 17
written on February 11, 2008 by William Riccio
Help in Choosing a Tax Preparer
written on January 28, 2008 by William Riccio
IRS provides guidance on the highly debated issue of Independent Contractor vs Employee
written on January 14, 2008 by William Riccio
IRS Announces 2008 CostofLiving Adjustments
written on December 12, 2007 by William Riccio
IRS Sets New Guidelines for Contingent Fees
written on December 07, 2007 by William Riccio
2008 Federal Standard Mileage Rates
written on November 29, 2007 by William Riccio
Ohio New Hire Reporting Requirements
written on November 16, 2007 by William Riccio

View All

More By This Expert

2013 Federal Standard Mileage Rates
written on December 04, 2012 by William Riccio
Ohio Minimum Wage Rate Increase for 2013
written on November 01, 2012 by William Riccio
Social Security Wage Base Increases for 2013
written on October 17, 2012 by William Riccio
New Restrictions to Employer Identification Number Requests
written on June 01, 2012 by William Riccio
2013 Health Savings Accounts Inflation Adjustments
written on May 24, 2012 by William Riccio
2012 Federal Standard Mileage Rates
written on December 21, 2011 by William Riccio
Changes to Ohio Charitable Registration
written on December 21, 2011 by William Riccio
Ohio Minimum Wage Rate Increase for 2012
written on November 04, 2011 by William Riccio
Social Security Wage Base Increased for 2012
written on October 27, 2011 by William Riccio
Updated 2011 Federal Standard Mileage Rates
written on June 28, 2011 by William Riccio
2011 Federal Standard Mileage Rates
written on December 06, 2010 by William Riccio
Late Filing Penalty for Partnership Returns Increased
written on November 17, 2010 by William Riccio
Late Filing Penalty for S Corporation Returns Increased
written on November 12, 2010 by William Riccio
IRS Redefines Mortgage Deduction Limits
written on October 25, 2010 by William Riccio
State of Ohio Sponsored Help Wanted and Job Seekers Online Resource
written on August 09, 2010 by William Riccio
IRS Seeks Public Comments Regarding Expanded 1099 Reporting Requirements
written on July 16, 2010 by William Riccio
Closing Deadline for First Time Homebuyer Credit Extended
written on July 09, 2010 by William Riccio
2011 Health Savings Accounts Inflation Adjustments
written on May 25, 2010 by William Riccio
2010 Federal Standard Mileage Rates
written on May 25, 2010 by William Riccio
Social Security Wage Base Remains Unchanged for 2010
written on November 05, 2009 by William Riccio
IRS Reports Record Number of e-Filed Returns
written on November 05, 2009 by William Riccio
Latest IRS e-mail Hoax
written on September 21, 2009 by William Riccio
Proactive Steps for Taxpayers who are Newly Married
written on July 20, 2009 by William Riccio
Deductibility of Job Search Expenses
written on July 13, 2009 by William Riccio
2010 Health Savings Accounts Inflation Adjustments
written on May 20, 2009 by William Riccio
2009 Health Savings Accounts Inflation Adjustments
written on May 18, 2009 by William Riccio
Changes to Ohio Sales Tax Filing Requirements
written on January 26, 2009 by William Riccio
2009 Federal Standard Mileage Rates
written on December 02, 2008 by William Riccio
Employment Tax Reporting Changes for Some Single Member Limited Liability Companies
written on December 01, 2008 by William Riccio
Rolling-Average Inventory Method Now Allowed by Internal Revenue Service
written on October 01, 2008 by William Riccio
Mortgage Forgiveness Debt Relief Act
written on August 04, 2008 by William Riccio
IRS Reduces Extension Period for Certain Business Taxpayer Filings
written on July 09, 2008 by William Riccio
2008 Federal Standard Mileage Rate Revision
written on June 24, 2008 by William Riccio
IRS Reduces Businesses Tax Package Mailings
written on June 16, 2008 by William Riccio
Retirement Plan Options for Small Businesses
written on May 08, 2008 by William Riccio
IRS Stakeholder Liaison Assistance for Schedule C Filers
written on April 22, 2008 by William Riccio
Unclaimed Research & Development Tax Credits
written on March 17, 2008 by William Riccio
Business Benefits of the 2008 Economic Stimulus Act
written on February 26, 2008 by William Riccio
2008 Economic Stimulus Plan Forces Seniors to File In Order to Receive Rebates
written on February 18, 2008 by William Riccio
Newly Improved Publication 17
written on February 11, 2008 by William Riccio
Help in Choosing a Tax Preparer?
written on January 28, 2008 by William Riccio
IRS provides guidance on the highly debated issue of Independent Contractor vs Employee
written on January 14, 2008 by William Riccio
IRS Sets New Guidelines for Contingent Fees
written on December 07, 2007 by William Riccio
2008 Federal Standard Mileage Rates
written on November 29, 2007 by William Riccio
Ohio New Hire Reporting Requirements
written on November 16, 2007 by William Riccio

View All

December 11, 2007

IRS Announces 2008 Cost-of-Living Adjustments

The following is a list of items affected by the IRS cost-of-living adjustments for 2008 which can be found in IRS Rev. Proc 2007-66 (http://www.irs.gov/irb/2007-45_IRB/ar19.html):

  .01 Tax Rate Tables
  .02 Unearned Income of Minor Children Taxed as if Parent's Income ("Kiddie Tax")
  .03 Adoption Credit
  .04 Child Tax Credit
  .05 Hope and Lifetime Learning Credits
  .06 Elective Deferrals and IRA Contributions by Certain Individuals
  .07 Earned Income Credit
  .08 Low-Income Housing Credit
  .09 Alternative Minimum Tax Exemption for a Child Subject to the "Kiddie Tax"
  .10 Transportation Mainline Pipeline Construction Industry Optional Expense Substantiation Rules for Payments to Employees under Accountable Plans
  .11 Standard Deduction
  .12 Overall Limitation on Itemized Deductions
  .13 Qualified Transportation Fringe
  .14 Income from United States Savings Bonds for Taxpayers Who Pay Qualified Higher Education Expenses
  .15 Adoption Assistance Programs
  .16 Private Activity Bonds Volume Cap
  .17 General Arbitrage Rebate Rules
  .18 Safe Harbor Rules for Broker Commissions on Guaranteed Investment Contracts or Investments Purchased for a Yield Restricted Defeasance Escrow
  .19 Personal Exemption
  .20 Election to Expense Certain Depreciable Assets
  .21 Eligible Long-Term Care Premiums
  .22 Retirement Savings
  .23 Medical Savings Accounts
  .24 Interest on Education Loans
  .25 Roth IRAs
  .26 Treatment of Dues Paid to Agricultural or Horticultural Organizations
  .27 Insubstantial Benefit Limitations for Contributions Associated with Charitable Fund-Raising Campaigns
  .28 Funeral Trusts
  .29 Expatriation to Avoid Tax
  .30 Foreign Earned Income Exclusion
  .31 Valuation of Qualified Real Property in Decedent's Gross Estate
  .32 Annual Exclusion for Gifts
  .33 Tax on Arrow Shafts
  .34 Reporting Exception for Certain Exempt Organizations with Nondeductible Lobbying Expenditures
  .35 Notice of Large Gifts Received from Foreign Persons
  .36 Persons Against Whom a Federal Tax Lien Is Not Valid
  .37 Property Exempt from Levy
  .38 Interest on a Certain Portion of the Estate Tax Payable in Installments
  .39 Attorney Fee Awards
  .40 Periodic Payments Received under Qualified Long-Term Care Insurance Contracts or under Certain Life Insurance Contracts

*****

William B. Riccio, CPA/CITP is a certified public accountant. He is president of Riccio & Associates and can be reached at (216) 255-6913 or by e-mail at william@ohiocpa.net.