The IRS has put together important tax tips for those who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may qualify to exclude all or part of that gain from your income. Here are ten tips from the IRS to keep in mind when selling your home.

In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale.

If you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income ($500,000 on a joint return in most cases).

You are not eligible for the exclusion if you excluded the gain from the sale of another home during the two-year period prior to the sale of your home.

If you can exclude all of the gain, you do not need to report the sale on your tax return. More on Important Tax Tips When Selling Your Home

A report issued by Citizens for Tax Justice and the Institution on Taxation and Economic Policy suggest many of the largest U.S. corporations use loopholes and pay lobbyists to significantly reduce the amount of corporate income tax they pay.

The study suggests that inefficiencies of the tax code, using tax loopholes and lobbyist influence have reduced the amount of corporate tax they pay from 35% to 18.5%.

More on Loopholes and Lobbyist Paying Off For Corporate America