If you have a child under 17, you can take up to $1,000 off your tax liability per child and it doesn't matter how many kids. If you have five, that's $5,000.

You won't have to pay up if you don't have a tax liability or if you have overpaid tax for whatever reason.

For this tax liability, it wouldn't matter how long a person held the fund. It would only matter how long the fund had held the security.

If you've paid at least 90 percent of your current tax liability by April 15 or 100 percent of the previous year's taxes, you won't have to pay the late payment [0.5 percent] fee.

Hurricane Katrina -- if you housed a victim for more than 60 days there's an extra $500 exemption. It's as if you have a dependent or if you were supporting someone for the year and that is unique for this year.

You can open up an IRA between now and April 15 and put money in for 2005, or you can also open an IRA and contribute to 2006 for next April.