On the Web   ● IRS sales tax publication:   http://www.irs.gov/pub/irs-pdf/p600.pdf

WASHINGTON - Making big splurges this holiday season? The IRS released tax tables Friday to help taxpayers calculate whether they would benefit from a new sales-tax deduction. A law passed this fall lets taxpayers choose to deduct state and local sales taxes, instead of state and local income taxes, on their federal forms. The change means a new deduction for people in states, including Alaska, Florida, Nevada, Tennessee, South Dakota, Texas, Washington and Wyoming, who pay sales taxes but not income taxes. A table sets the deduction for individuals in each state according by income and other filing circumstances in a vast range from less than $200 to more than $2,500. The change also could help a taxpayer in any state who made a major purchase during the year. Taxes paid on a car, boat, aircraft, home or home remodeling materials can be added to the average sales-tax deduction given in IRS tables. On the Web

 

● IRS sales tax publication: http://www.irs.gov/pub/irs-pdf/p600.pdf