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                         February 8, 2002

Guide can help you understand new tax law
All taxpayers affected by 'Economic Growth and Tax Relief Reconciliation Act of 2001'

By Irene Brown
Editor

This, the largest tax cut in more than 20 years, the Economic Growth and Tax Relief Reconciliation Act of 2001, has been signed into law and all taxpayers are affected by it. The cut started with the $300 to $600 rebates taxpayers received last year.

The new law is very complex and contains many changes. To help taxpayers decipher the language and take advantage of the benefits, FEDweek has recently published a guide called "Your Guide to Understanding the New Tax Law."

The guide is written in plain English and provides easy-to-follow explanations of all the ins and outs of this complicated piece of legislation. The following is just some of the information contained within the guide:

- Income-shifting strategies that help deliver bigger payoffs.

- How to pay for your child’s education with tax-free dollars.

- Strategies for paying down your mortgage.

- Simplifying retirement plans.

- Investments that will gain -- and lose -- from the new law.

- How to avoid the alternative tax.

- Using the new estate tax provision laws.

- Insider information on understanding tax brackets.

- Using the new TSP contribution cap increases.

- Tax deduction strategies.

- The affects of child and dependant care tax credits.

For more information on this publication, go to www.fedweek.com.