March 14, 2000
The tax deadline is still more than a month away.
But those of us who itemize should be on the lookout for an important change this year.
Government Specialist Richard Piatt has more.
It's always the little things that can trip you up.
And if you itemize on your Federal return, there's an important change in Utah law that is, in fact, one of those little things.
A lot of people aren't happy about filing tax returns.
But this is the time of year when everyone just needs to get it done.
This year, as you're wading through the sea of forms and receipts, you'll find a few of the rules have changed again.
Including one very important change here in Utah.
Janice Gully/Utah State Tax Commission: THERE IS NO LONGER A PROPERTY TAX ON MOTOR VEHICLES. THAT WAS CHANGED AT THE BEGINNING OF '99 TO AN AGE BASED FEE. AND ACCORDING TO IRS REGULATIONS, THAT IS NO LONGER DEDUCTIBLE.
To say it another way, the change means that on line 7 of your 10-40, you'll no longer be able to deduct the amount you pay to register your car or truck.
The same law changed the way annual fees are calculated when you get your vehicle inspected every year.
It was a welcome change for some people.
Dennis Wanlass/Layton: IT'S SIMPLER, IT SEEMS TO COST LESS.
For owners of newer cars, that's true.
The savings is big enough that the loss of the deduction shouldn't be significant to most people.
Dave Adams/Sandy: IT'S NOT THAT MUCH AS FAR AS AN ITEMIZED DEDUCTION GOES."
Still, the IRS will catch such a mistake if you make it, and insist on a correction.
And remember that you can still deduct the annual tax you pay on your RV, boat, or motorcycle.
Another bit of good news-- tax due date is April 17th this year, because the 15th falls on a Saturday.
