Photographs of missing children.
The Internal Revenue Service is a proud partner with the National
Center for Missing and Exploited Children. Photographs of missing
children selected by the Center may appear in this publication on
pages that would otherwise be blank. You can help bring these children
home by looking at the photographs and calling
1-800-THE-LOST
(1-800-843-5678) if you recognize a child.
Paid preparer authorization.
Beginning with your return for 2000, you can check a box and
authorize the IRS to discuss your tax return with the paid preparer
who signed it. If you check the "Yes" box in the signature area
of your return, the IRS can call your paid preparer to answer any
questions that may arise during the processing of your return. Also,
you are authorizing your paid preparer to perform certain actions. See
your income tax package for details.
Standard mileage rate.
Beginning January 1, 2000, the optional standard mileage rate for
operating your car for business purposes is 32.5 cents for each
business mile.
Limit on personal credits.
For tax years 2000 and 2001, your nonrefundable personal credits
for the year can offset both your regular tax (after reduction by the
foreign tax credit) and your alternative minimum tax for that year, if
any.
The personal credits that can offset those taxes, but cannot be
refunded if they are more than those taxes, are:
- Adoption credit,
- Child tax credit,
- Credit for child and dependent care expenses,
- Credit for the elderly or the disabled,
- Education credits (Hope and lifetime learning
credits),
- Mortgage interest credit, and
- District of Columbia first-time homebuyer credit.
For more information about these credits, see the instructions for
Form 1040.
Individual retirement arrangement (IRA).
If you are covered under an employer retirement plan, the amount of
income you can have in 2000 and still claim a deduction for a
contribution to a traditional IRA has increased in most cases. For
more information, see Publication 590,
Individual Retirement
Arrangements (IRAs) (Including Roth IRAs and Education IRAs).
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