Most overlooked tax deductions

Published On: Jan 12 2012 02:20:55 PM EST   Updated On: Feb 15 2013 02:00:00 AM EST

The first day the IRS will accept your tax return is Jan. 20. Find out how to cut your tax bill to the bone by claiming all the breaks you deserve.

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Tax-Free Transit Subsidy -- The fiscal cliff deal brought a retroactive break for commuters who used public transit to get to work in 2012. Folks who took the bus or train can now receive up to $240 tax-free from their employers to cover the cost of transit expenses. Check with your human resources office to see if your employer offers a transit-subsidy program.

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