Story Published:
Jan 26, 2010 at 8:01 AM CDT
Story Updated:
Jan 26, 2010 at 11:16 AM CDT
SPRINGFIELD, Mo. -- There are several new breaks for which many taxpayers could qualify, from home buyers, to college students and their parents.
Parents and students who paid at least $4,000 in college tuition can use a federal education credit to offset part of the cost.
If you bought your first home in 2009, you'll be able to claim a tax credit worth 10 percent of the house, up to $8,000. Plus, unemployed workers are allowed to exclude the first $2,400 of unemployment benefits received in 2009.
Overall, experts say many people can look forward to a larger refund this year.
"The ones who have qualified for credits in the past will see larger refunds. People like me where I don't have kids anymore or I've been in the same house for 12 years, I'm not going to see those type of credits. But, in general, people who are making moves, who have children, they're going to see larger credits," said Jackie Kempfer of Stress Relief Tax & Financial Services.
The tax credits likely will boost the average refund above last year's level, which according to the IRS was $2,800.
