Reports have confirmed that taxpayers will be very happy with the IRS Publication 17, as there have been a total of 22 tax changes in deduction and tax credits introduced in the 2009 taxes' document, and most of these are good for the bank balances of various taxpayers.

"There’s more in favor of the taxpayers", said Glenn Koslovsky, a Waco certified public accountant.

Major highlights of the document include - a cut in the state and local sales or excise taxes on purchase of a new vehicle post February 16, users of plug-in electric vehicles will be eligible for tax credits and depending on the vehicle, credits can range from $2,500 to $15,000 in tax savings.

Also included are credits for energy-saving products purchased for homes during 2009. Homeowners can apply for tax credits on 30% of the total cost involved on home improvements, and tax savings can be up-to $1,500.

Credit programs have been included for students, the unemployed and all taxpayers going through a difficult time.

The above mentioned points are just a tip of the huge, beneficial iceberg, and taxpayers looking to know more should curl up with a copy of the document.