New IRS Publication to Assist Displaced Workers

The IRS has released a new brochure, IRS Publication 4128 (Tax Impact of Job Loss), which addresses many of the issues faced by workers who have recently lost their jobs.  The publication addresses such items as severance pay, unemployment compensation, gifts from friends or relatives, food stamps, and withdrawing money from retirement accounts or IRAs.  It also contains information regarding starting a new business and allowable deductions regarding job search expenses.  If you or someone you know could use this brochure it can be downloaded from the IRS website at http://www.irs.gov/.