| ext">Every year, the IRS changes some of the | | | | Electronic submissions of returns will be disregarded by |
| specifics for tax deduction and they usually | | | | the IRS and paper returns will be set aside until the 3rd. |
| don’t inform the national public about the | | | | You will want to save your free efile until after that |
| detailed changes so people are usually left to just buy | | | | date. |
| new software like Tax Cut or Turbo Tax. There are | | | | Other changes that might save you money include |
| many changes like adjustments for inflation that | | | | phone tax refunds, hybrid car tax credits, residential |
| increase the standard deduction and widen the tax | | | | energy credits, bigger adoption credits, and a few |
| brackets that are easy to spot, but there are other | | | | other things that are geared more towards companies |
| subtle changes that are less obvious. It might make | | | | and upper class income earners. The government has |
| you angry to find out that some of the changes | | | | stopped collecting the excise tax on long distance |
| aren’t even on the 2006 tax forms because | | | | phone calls because phone plans do not charge their |
| they were made so late. | | | | plans based on distance. Also, if you buy a hybrid car |
| In order to insure that you get the maximum deduction | | | | during 2006, the government will give you a 3,400 |
| that you deserve, you need to follow some specific | | | | dollar tax credit for your contribution to society. If you |
| tax filing procedures to obtain them. For state sales | | | | decided to use alternative fuels like solar energy to |
| tax, college tuition and educators' expenses, Congress | | | | heat your home, you can deduct 30% of that along |
| changed the deductions for these specific issues last | | | | with 10% for the cost of skylights, outside doors, and |
| December, but they aren’t on the forms. You | | | | windows. If you decide to adopt a child this year, you |
| are now able to get deductions on these expenses | | | | and your family can deduct up to 10,960 dollars. |
| based on the new changes. Also, if you are the kind of | | | | Make sure to catch these new changes on your tax |
| person that likes to get their taxes done early, you will | | | | returns because these are not small deductions that |
| have to wait until after February 3rd because the IRS | | | | don’t matter much. |
| will not be able to process returns until after this date. | | | | |