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Don't overlook tax breaks in your Oct. 15 filing deadline rush

Tax breaks_dreamstime_xs_29536914Are you still working on your extended 2012 tax return that's due Oct. 15? Good.

Remember, just because much of the federal government, including the Internal Revenue Service, is shut down, tax laws are still in effect. That means the IRS expects all taxpayers who haven't yet finished their tax filing taxes this year to do so by the upcoming extension due date.

But don't get in too big of a hurry. You might miss some often overlooked tax breaks.

Some of these tax breaks are for itemizers only. Others can be claimed by any filer.

Some are credits that reduce tax bills dollar-for-dollar. Others are deductions that cut the amount of income upon which your tax bill is calculated.

They include non-cash charitable gifts, moving expenses, job-hunting costs, military reservists travel expenses, child-care payments, mortgage refinancing points, myriad medical costs, retirement account contributions, educational expenses and energy-efficient home improvements.

I elaborate on these 10 commonly overlooked tax breaks in my Bankrate story. You also can find details on each in my blog post earlier this year reminding you not to overlook any tax breaks.

Check them out, along with the other Weekly and Daily Tax Tips to make sure that as you finally fill out your 2012 Form 1040 you don't cheat yourself out of any tax savings.

You also might find these items of interest:


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