Tax preparation is the act of preparing the filing of income tax returns. Because United States income tax laws are considered to be complicated, many people and corporations seek outside assistance with taxes (59.2% of individual tax returns in 2007 were filed by paid preparers[1]). Tax preparation may be done by the filer, with the help of a licensed professional such as an attorney, certified public accountant or enrolled agent, with the help of a tax preparation business, or with the help of tax preparation software and online services. Some states have licensing requirements for anyone who prepares tax returns for a fee and some for fee-based preparation of state tax returns only. Oddly, the Internal Revenue Service does not have any requirement for licensing of tax preparers. However, IRS circular 230 prescribes regulations governing the practice of Attorneys, Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, Enrolled Retirement Plan Agents, and Appraisers whose practice may involve representing taxpayer in front of the IRS.

The New York State School Tax Relief Program (more commonly known as the STAR Program), or New York State Real Property Tax Law §425,[1] is a school tax rebate program offered in New York State aimed at reducing school district property taxes on the primary residences of New York residents.[2] The program was enacted on August 7, 1997,[1] a product of the annual budget of then-Governor George Pataki.[3] The STAR Program takes two forms: the Basic STAR and the Enhanced STAR. The Basic STAR is open to the primary residence of any New York State resident and exempts $30,000 from the true value of a home or property. The Enhanced STAR, for eligible senior citizens at or above age 65, exempts an annually variable amount - $56,800 for the 2008-2009 school year - from the true value of their primary residence.[2] Essentially, the program is aimed to lower the tax burden on school district residents. This does not affect the overall revenue of a given school district; the difference is made up by the state, essentially making the program another source of state aid. The STAR rebate is subtracted from the "true value" of the home in question. The true value of a home is the value determined at the time of the last property assessment (typically done by a town or county assessor), divided by an equalization rate, which is the ratio of assessed value to market value for each taxing jurisdiction, as calculated by the State of New York.[4] Equalization rates are used because assessments are not done each year by town or county officials. In addition, school districts typically do not have the same boundaries as other taxing jurisdictions (i.e. cities and towns) so equalization calculations are needed to bring property values to the same levels within all neighboring municipalities, included in a given district.[4]

Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises. As of 2004, the financial services industry represented 20% of the market capitalization of the S&P 500 in the United States. In the United States The term "financial services" became more prevalent in the United States partly as a result of the Gramm-Leach-Bliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge.[citation needed] Companies usually have two distinct approaches to this new type of business. One approach would be a bank which simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g., in Japan), non-financial services companies are permitted within the holding company. In this scenario, each company still looks independent, and has its own customers, etc. In the other style, a bank would simply create its own brokerage division or insurance division and attempt to sell those products to its own existing customers, with incentives for combining all things with one company.

IRS Fall 2009 Statistics of Income Bulletin Now Available IR-2009-109, Nov. 24, 2009 — The IRS today announced the release of the fall 2009 issue of the Statistics of Income Bulletin, featuring data on 143 million individual income tax returns filed for tax year 2007. First-Time Homebuyer Credit Extended to April 30, 2010; Some Current Homeowners Now Also Qualify IR-2009-108, Nov. 24, 2009 — Maximum credit remains at $8,000. Long-time residents can qualify for up to $6,500. Interest Rates Remain the Same for the First Quarter of 2010 IR-2009-107, Nov. 23, 2009 — Interest rates for the quarter beginning Jan. 1, 2010, ramain the same as in the prior quarter. IRS Issues Proposed Regulations on Reporting Requirement for Payment Card and Third-Party Payment Transactions IR-2009-106, Nov. 23, 2009 — The IRS issued proposed regulations under a new statute requiring that, starting with transactions in calendar year 2011, the gross amount of payment card and third-party network transactions be reported annually to participating merchants and the IRS. Most Businesses May Take Advantage Of Expanded Loss Carryback Option Under New IRS Procedure IR-2009-105, Nov. 20, 2009 — Most businesses may use losses incurred during the economic downturn to reduce income from prior tax years, under a revenue procedure issued today by the IRS.