Six-Month Automatic Extensions in 2006

Finally!!!!! IRS has announced that the Automatic Extension form, Form 4868, will be good for 6 months instead of 3. Next April, when you send in Form 4868, you'll have until October 16, 2006 to complete your tax return.

Only...it's not necessary to actually use all that time!

http://www.irs.gov/newsroom/article/0,,id=150456,00.html

IRS Certifies Ford and Mercury Hybrid Vehicles for the Clean-Fuel Deduction

The Internal Revenue Service has certified the model year 2006 Ford Escape Hybrid and the 2006 Mercury Mariner Hybrid vehicles as being eligible for the clean-burning fuel deduction. This certification means that taxpayers who purchase one of these hybrid vehicles new during calendar year 2005 may claim a tax deduction of up to $2,000 on Form 1040.

http://www.irs.gov/newsroom/article/0,,id=150594,00.html

2006 Inflation Adjustments Widen Tax Brackets, Change Tax Benefits

Personal exemptions increase to $3,300

Standard Deductions increase:

$10,300 - Married, Filing Jointly $ 5,150 - Single and Married, Filing Separately $ 7,550 - Head of Household

Gift Tax exemption increases to $12,000 per person.

And tax brackets increase, too. Read on