Federal tax help is now available for American taxpayers for the 2009 federal income tax season. The Internal Revenue Service has updated the 2009 IRS Tax Guide on it’s website www.irs.gov.

Taxpayers can look forward to getting their income tax questions answered and discovering the various tax breaks and deductions available this year. Many of these federal income tax breaks and tax changes are due to the American Recovery and Reinvestment Act of 2009.

The newly revised Publication 17, “Your Federal Income Tax”, is a comprehensive guide that features details on all the new tax-saving opportunities, such as the Making Work Pay credit, the education credit for parents with youngsters in college, the energy credits for homeowners going green, and those for first-time homebuyers.

The 308-page guide provides almost 7,000 interactive links to help taxpayers quickly get answers to their federal tax questions.

Publication 17 has been produced annually by the IRS for more than 65 years and has been available on-line since 1996. As always,, the tax guide is packed with tax-filing information and tips on what income to report and how to report it, figuring capital gains and losses, claiming dependents, and some basics such as choosing the standard deduction versus itemizing deductions.

To get Publication 17, go to www.irs.gov and enter “17″ in the search box in the upper right corner of the home page or use this link 2009 IRS Tax Guide.

Printed copies of the tax guide will be made available in January 2010. To request a copy or need federal tax help - call 1-800-829-3676.

source: tallahassee.com, irs.gov

Are you still thinking about purchasing a new car even though you missed out on the Cash for Clunkers program? Well, there is still some good news - potential new car buyers can still claim a 2009 federal tax credit on newly purchased vehicles up until December 31, 2009.

The “money back for new vehicle purchases” deduction, through The American Recovery and Reinvestment Act of 2009, is not an itemized deduction, said Sue Hales, IRS spokesperson for Illinois.

“Everyone can take this deduction,” Hales explained. “Most deductions you have to itemize.”

WHAT VEHICLES QUALIFY FOR THE IRS AUTO TAX CREDIT PROGRAM?
The tax credit is available for the purchase of NEW cars, motorcycles and light trucks. 

HOW IS THE TAX CREDIT APPLIED?
The tax credit applies to taxes and fees paid on the first $49,500 of the car purchase.

WHO QUALIFIES FOR THE IRS AUTO TAX CREDIT PROGRAM?
Joint tax return filers with modified adjusted gross incomes of $260,000 or less
Individual tax return filers with modified adjusted gross incomes of $135,000 or less

With a few months left in 2009, taxpayers can take advantage of other federal tax credit incentives including:

• First-time homebuyer credit for people who purchase in 2009, up to $8,000
• Education benefits
• Enhanced tax credits for the tax years of 2009 and 2010, including new details to the additional child tax credit and earned income tax credit

For more information go visit irs.gov