It covers in detail:

• The brand new Economic Stimulus Act’s rebate program, boosted expensing deduction, 50% bonus depreciation, and increased business auto allowance.
• The latest AMT rules
• Relief from debt discharge income on mortgage foreclosures
• Expanded homesale gain exclusion for widows and widowers
• New tax advantages for volunteer firefighters and emergency medical responders
• New energy tax breaks
• Disclosure and inspection rules for charitable organizations
• New charitable contribution rules, some good some bad
• New excise tax and penalty rules
• And many other changes affecting all forms of business entities

This publication will also include the code as amended and committee reports.

Amendments to the Internal Revenue Code, January 2008 Edition.