Free Republic

If you are like most Americans, you won't start thinking about working on your income tax return until long after ringing in the New Year. However, if you want to avoid the stress of digging through an accumulation of bills and invoices to provide proof of income and/or expenses, the time to begin is now.

WASHINGTON — With 2010 models arriving in auto dealer showrooms, the Internal Revenue Service reminds taxpayers that buying a new car, light truck, motor home or motorcycle could qualify them for a special deduction for state and local sales and excise taxes on their 2009 tax returns. Purchases made before Jan. 1, 2010, qualify for this deduction under the American Recovery & Reinvestment Act of 2009. The deduction is limited to sales and excise taxes and similar fees paid on up to $49,500 of the purchase price of a new vehicle. The deduction is reduced for joint filers with modified...