This is the most authoritative and detailed income tax guide currently available. As its authors point out in their introduction, two books have been carefully spliced together to create this one volume: The first part of the manual is the IRS's official tax guide (Publication 17, Your Federal Income Tax) and the second part contains Ernst & Young's advice, comments, and expert tips. The IRS text is printed in black, while the Ernst & Young commentary appears on the same page inside a blue box, thereby allowing you to access both official and unofficial information at the same time. The advantages of this format are clear -- without a lot of cumbersome page-turning, you can find out exactly what you need to know in order to file your return as advantageously as possible. The back of the book also contains an abundance of usable forms. Given the number of recent changes made in the tax laws (all of which are explained), this is a particularly good year to make sure you have the most recent copy of The Ernst & Young Tax Guide in your home.
Another noteworthy feature of the book is the inclusion of information on a variety of special cases -- citizens working abroad, the gift tax, reporting domestic help -- as well as forward-looking advice that will help you make financial plans for the rest of 2003. Many readers will find additional benefits in the list of 50 of the most easily overlooked deductions. From the depreciation of your home computer to job-related moving expenses to home improvements, you'll be surprised at the number of things you might be able to get credit for. Sunil Sharma