The 2007 tax year is rapidly coming to an end, and taxpayers should be making preparations to file.

Internal Revenue Service spokesman Mark Green said planning can save taxpayers time -- and possibly money -- when filing returns in 2008.

"This is going to be a different tax year because we have so many new laws in place," he said. "To make taxes less stressful, now is the time to plan ahead by gathering and organizing your records."

The Alternative Minimum Tax is among new tax laws that could affect taxpayers, he said. The IRS announced Thursday that up to 13.5 million people affected by the parallel income tax will have to wait to Feb. 11 to file their returns, rather than the standard mid-January.

The delay was caused by Congress' last-minute decision to freeze the growth of the tax -- which was designed to prevent individuals in a higher tax bracket from avoiding taxes -- for a year.

Area accountants are busy assisting clients with last-minute preparations, such as determining whether state taxes should be paid before the end of the year and whether charitable donations should be made to minimize tax liabilities.

"If you want the donation on your 2007 tax returns, you need to make the donation by Dec. 31," said Beth Morrison, a partner at Cherry, Bekaert & Holland LLP.

The IRS offers the following year-end tax tips and reminders:

- Develop a filing system for records relating to 2007 taxes, such as bills, receipts, invoices, mileage logs, canceled checks and records to support deductions or credits.

- New tax laws also affect charitable contributions. To receive a deduction, you must have a bank record or a written receipt from the charity detailing the charity's name and the donation amount.

- Taxpayers may gift up to $12,000 per person without incurring a gift tax or exposing the recipient to taxes.

- Energy tax credits up to $500 are available for a person's principal residence. The credit applies to purchases of energy-efficient windows, insulation, doors, roofs and heating and cooling equipment.

- Individuals can save on taxes by adding up mortgage interest, real estate taxes, charitable contributions and other expenses that count as itemized deductions.

- Taxpayers can contribute to their Individual Retirement Arrangements/Accounts (IRAs) until April 15. The maximum contribution for 2007 is $4,000. People age 50 or over by Monday can contribute up to $5,000.

- Educators are still eligible for a $250 deduction for out-of-pocket classroom expenses. Proof of receipts is required.

- A one-time tax deduction is available for taxpayers who purchased or refinanced their home in 2007 and were required to purchase private mortgage insurance.

- A tax credit of $3,400 is available for the purchase of a hybrid vehicle in 2007.