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By AnnaMaria Andriotis, SmartMoney.com


UNLESS YOU'RE AN accountant (or a tax junkie), you probably haven't kept up with the latest tax laws that Congress has passed for the 2007 filing season.

The good news is that many of these changes -- be it higher exemptions or extended tax credits -- can boost your bottom line. However, the only way to take advantage of these new laws is to know about them before you file. And with a little more than two months left until the April 15 filing deadline (Oct. 16 if you qualify for the extension), most taxpayers are going to need a crash course.

Here are five of the most important tax changes that you need to know before mailing your returns to Uncle Sam.


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