Infrared film effect

>> Step 1:
Open Image Open the image you want to convert into IR
Suggestion: use a well lighted landscape with nice grass and blue cloudy ski however you can apply this effect on many other subjects includding portraits.

>> Step 2a: Add a Channel Mixer and set it with Infra Red values
The first step is to add a channel adjustment layer. So lets go to the layers palette and click the (adjustment layer button) the black and white circle at the bottom and then click channel mixer in the pop up menu
Next thing is to Set the values Red: 100% Green: 200% Blue : -200% Constant -25 in the Channel Mixer window that just poped up

>> Step 2b: Select the Monocrome box and play a bit with the channels. Next you have to check the Monocrome box and play again a bit with the channels, the R:100 G:200 B:-200 are arbitrary values that work most times , but you may need move slightly those values depending on the darkness or lightnes you want , so play a bit and click OK when you are satisfied with the preview

***>> Step 3: Add the magic texture Most of the magic of IR is the dreamy texture , so we can create that by adding some "noise" (filter/noise/add noise..)OR !by Adding Blury a texture.

>> Step 3a: Merge Down Channel Mixer select
the Channel Mixer layer in the layer's palette and click on PC Ctrl+ E or (Layer/Merge down)

>> Step 3b: Duplicate Background layer
Select the Background layer in the layer's palette and duplicate it (Layer/Duplicate Layer)

>> Step 3c: Add gaussian blur to the duplicated image
Select the duplicated layer (background copy ) and add “Gaussian Blur” (filter / blur / Gaussian blur ). It has to look rather blurry

>> Step 3d: Reduce Layer's Opacity
Set the layer’s opacity value to 50%. (layers / layer style / blending options ) slide to 50% the opacity slider in the top of the layer palette. The opacity can go from 30% to 60% it will
determine how soft the pic will be.

(Source: Miguel Ugalde Ugaldew)

(Link: http://www.sxc.hu/blog/post/671)

I did try it and believe me it's wonderful.