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BOB'S TAX TIPS
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The IRS has issued Publication 4492, Information for Taxpayers Affected by Hurricanes Katrina, Rita, and Wilma. There is much more information for those affected by the 2005 hurricanes at their website.
IRS Hurricane Relief Info For taxpayers impacted by Hurricane Katrina living in specific parishes, 2004 tax returns and payments with an original or extended due date on or after August 29, 2005 and 2005 tax returns and payments due before August 28, 2006 are all now due by August 28, 2006.
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Did you know that if you host a high school foreign exchange student in your home you can currently take a monthly tax deduction of $50?
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Rep. Robert Andrews (D-NJ) has introduced legislation that would increase the monthly tax deduction for families hosting high school exchange students from $50 (established several decades ago) to $200. The bill, titled the "Youth Exchange Support Act" (HR 869) would index the deduction to the annual cost-of-living adjustment, automatically adjusted yearly. Please write your senators and congressmen and ask them to support this bill.
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Email Bob
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1220 Windsor Place
Alexandria, LA 71303
(318) 473-0721
rabilaw@aol.com www.rgtaxlaw.com
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