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| UPDATING FOR 2010 |
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10. If you are disabled or a full-time student, you can claim child care paid for the months you are going to school or are totally disabled. |
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11. You can deduct up to $2500 of the interest paid on your student loan. The 5 year limit has been eliminated. |
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12. If you are taking a course at any accredited school, you may be able to take a credit on your return for the tuition you paid. |
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13. You can use your IRA for the down payment on a house (up to $10,000 for a first-time homeowner), for college education costs, for excessive health expenses and other hardships. You will owe tax on the withdrawn amount, but no penalty for early withdrawal. |
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14. You can pay the balance due on your return as well as estimated taxes with your credit card. |
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15. According to IRS statistics, a taxpayer who electronically files the return is 73% less likely to receive a letter from the IRS than a return done "by hand" |