Show to take It's that time again Here's how advantage of IRS changes for 2003 returns By Lynn Brenner O YOUR EYES GLAZE over when you think about Many taxpayers will enjoy doing your tax return? If not alone Bur don’t wait until the last minute It’s deadline pressure chat causes omissions such as go sign your return —not id mention mistakes that may boost yourtax bill such as picking the wrong filing status Every year there are a few changes in Form 1040 But first things first: so"-you’r- $ deductions and credits and f lower tax rates ISyo bsandteeMtiyoOv Check Your Filing Status: Does It Still Fit You? ' Has anything changed in your life? You can fik taxes as a single person a married couple fit ing joincfy a head of household a married per-- Tho IRS offers fr— rilitanci by computer phone fax or in pionon You can download forms instructions and pubBcations from tho IRS Web site or ortfor thorn by caMng To sporic with an W$ rapraiontativo son filing separator or a qualifying widow or widower with a dependent child Each category has its own tax rates Don’t make a snap ded-sio-n abouc which one you fit read the instructions For example if you were divorced widowedorlegally separated by Dec 312003 land you have financial dependents ypu may qualify ro file as a head of household— paying less rax chan as a single taxpayer or a married person '" filing separately Your filing status may have ' dunged last year even'ifyour marital status didn’t For example: “If you’re a single parmtwith a grown child who lcMhis job moved back in with you in 2003 and stayed for mote than half the year you may quat ifyasahead of household even ifhis income was ' ' V too high for you oo claim him as a dependent1' says Bob D Scharin editor ofRIA’siYttctic Tax a Strategies a journal for tax professionals The Good News: s These Changes May Help You ' ial Youmay quaifyforFr— RfoanWSoponaorad program in which 16 financial ftms provide frso softwaio and alactronic fiBng or offing to efigMo taxpayers (Tho ' aiigibflhy criteria vary among tho firmtO But bo aware that this makes you a marketing target for thorn firma ' Even if you dont use Free FBeconskfor effftig for speed end convenien&e Adrewbedc If you uM e tax preparer youl pay extra for it ' vv: v V ' For more Information go to wnvwirsLgovon the Web highlights The sumfard deduction - " ' t itaa- - § Sotat ta3aym ized deductions on their 200 returns won’t if have co this year Congress has eliminated “the marriage penalty1' increasing the 2003 scan- - E dard deduction foe married couples to $9500— double die amount for single taxpayers (For headsof household die deduction is $7000) If £ your 2003 deductible expenses add up to less than' the standard deducrionsave yourself c ' ' ' v r ' ' I ' ’ - " r1--1' ' ' " V'’ t ai’1 y gcboitt fbr mdn people : v The 2003 tecum often bigger deductions and credits as well as lower tax rates Here are the g ' r “ yo t PAM 14 ' ' I FlBKVAST 15 2004 J ii PMADC t |