Tax season officially begins on Monday, Feb. 2, when the bulk of us will begin receiving W-2 forms from our employers. If you don't get yours on that day, don't fret; some employers may opt--legally--to send theirs out on the following Monday because the January 31 deadline to send falls this year on a Saturday.
Here's a list of the likely documents you'll need to get started, whether you visit a tax professional (about 60 percent of us do), or prepare your taxes yourself. To save money and time when using a tax professional--and not drive your preparer crazy--access our advice from Consumer Reports Money Adviser.
This year, you may be eligible for one or more tax breaks, including a credit for first-time homebuyers, and relief for some victims of last year's Midwest storms. Some breaks that were to have expired have been extended, including a credit for K-12 educators who pay out of pocket for supplies, and a deduction for a portion of higher-education tuition and fees.
If you had a baby in 2008--and that baby has a valid Social Security number--you can apply this tax season for an additional, $300 stimulus payment, or rebate. The stimulus payment that you probably got last tax season was meant to reflect your income and family situation for 2008. So if that includes another mouth to feed, put out your hand.
--Tobie Stanger












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