Well its almost April 15th and you know what that means. Yes, tax time! If you are like me you want to make sure you are getting a good or even great tax refund. One way of doing this is to find out about the latest IRS Tax Deductions.

What makes this year different is the ARRA (the American Recovery and Reinvestment Act).

This new law provides tax breaks for first-time homebuyers, people purchasing new vehicles, those who want to make their homes more energy efficient and students paying for college. Its important to note all of these programs have expiration dates so you should use them while you can. The following are the basics of what each of these programs will offer you. And as always you should check with the experts at irs.gov.

And you should also looking into using an online Tax Expert like H and R Block. One of the benefits of doing this is that there is no guesswork when getting IRS tax deductions and you can file and get your refund right away!

“This act extended and expanded the first-time homebuyer tax credit for 2009.

Taxpayers who didn’t own a primary residence during the past three years and buys a home in 2009 before December 1 can receive a tax credit of up to $8,000.”

The act also provides a tax break to taxpayers who make qualified new car purchases after Feb. 16, 2009, and before Jan. 1, 2010. Qualifying taxpayers can deduct the state and local sales taxes paid on the purchase of new cars, light trucks, motor homes and motorcycles. There is no limit on the number of vehicles that may be purchased, and the taxpayer may claim the deduction for taxes paid on multiple purchases.

This encourages homeowners to make their homes more energy efficient. The credit for non-business energy property is increased for homeowners who make qualified energy-efficient improvements to existing homes.

Approved improvements include the adding of insulation, energy-efficient windows and energy-efficient heating and air conditioning systems.

The above are just a few examples of the many approved tax deductions. There are many more so remember to read the IRS rules and to save time use an online tax preparer.