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Free Information
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- For tax years 2006 & 2007 - Install Energy Efficient Equipment and “qualify” for up to $500 in credits!
- Among the improvements covered are 10% of the cost of installing insulation, energy-efficient windows, doors, skylights and metal roofs coated with heat reducing pigment.
- Only $200 of your $500 maximum credit can be allocated to replacement windows
- Other items also have ‘caps’ within the $500 limit, such as $150 to upgrade to a more efficient furnace or boiler and up to $300 for a new heat pump or central air conditioning system.
- Automatic Six-Month Extension
- Individuals can file Form 4868 to obtain an automatic six (6) month extension of time to file beginning with 2005 return due in 2006. (You still have to pay by April 15 if you will owe taxes.) This replaces the existing procedure that only allowed for a 4 month extension.
- 2006 Mileage Rates
- Standard 44.5 cents per mile
- Medical 18.0 cents per mile
- Moving 18.0 cents per mile
- Charitable 14.0 cents per mile
- Charitable-Katrina related services 32.0 cents per mile
- IRS Warns of E-Mail Tax Refund Scam
- The IRS has issued a consumer alert warning taxpayers about an Internet scam in which a bogus e-mail informs the recipient that he or she is eligible to receive a tax refund for a given amount. To access a form for the refund, the recipient must use a link contained in the e-mail, which asks for personal and financial information. Do Not give out this information!
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