ADVISORY/Last-Minute Tax Tips from the Tax Experts at Intuit's TurboTax for the Web Service.

News Editors

ADVISORY...

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If you're among the millions of taxpayers who still haven't filed your income taxes, then here are some tax-saving tips to consider before the clock strikes midnight on April 15. "The good news is there's still time to save on your 2003 taxes," says Fred Grant, CPA and senior tax analyst at Intuit.

1.  Contribute to an individual retirement account. You have through
    April 15 to open and contribute to an IRA for a 2003 tax
    deduction.

2.  Did you know about the Retirement Savings Contribution Credit?
    Those who qualify get up to $1,000 in tax savings on contributions
    of up to $2,000 to a qualified retirement plan such as an IRA or
    401(k).

3.  Itemize. It may be a bit more work, but itemizing could result in
    bigger tax savings. Itemizing simply means adding up your
    deductible medical expenses, taxes and interest paid, gifts to
    charity, casualty and theft losses, and miscellaneous deductions
    such as work-related expenses and comparing the total to your
    standard deduction. If the itemized total is more than your
    standard deduction, chances are your taxes are going to be lower
    if you itemize.

4.  Don't forget deductions. Taxpayers lose hundreds of dollars a year
    because of missed deductions. There are plenty of deductions
    available even if you don't itemize. Examples include work-related
    moving expenses, student loan interest paid and alimony paid. For
    more information on eligible and often overlooked deductions, go
    to: www.turbotax.com.

5.  Identify all your dependents. Don't forget the Taxpayer
    Identification Numbers -- usually social security numbers -- for
    your children and other dependents on your tax return where
    appropriate.

6.  Plan Ahead. Even though it's tough to think past April 15 while
    preparing this year's taxes, look for ways to save money in the
    future like making deductible contributions to your favorite
    charity.

7.  Prepare and file your taxes online. True tax procrastinators can
    wait until the last minute to prepare and file their return online
    from the comfort of their own PC. Online tax services, like
    TurboTax for the Web, allow password-protected access over a
    secure Internet connection and it's convenient and easy to use.

8.  File an extension: If you're going to miss the April 15 deadline,
    make sure you file for an extension. This will allow you until
    August 15 (October 15 with an additional extension) to file your
    2003 income tax return. However, if you owe, you still need to pay
    taxes by April 15, or face interest charges and penalties.

For more information, visit our website at www.turbotax.com.

PLEASE FEEL FREE TO PRINT ANY OF THE ABOVE INFORMATION FOR EDITORIAL PURPOSES

To schedule an interview with Fred Grant, Senior Tax Analyst with Intuit, the makers of TurboTax software, please contact Scott Gulbransen at 585-525-7594 or e-mail at [e-mail]