Tax credit

Details of the tentative fiscal cliff deal

Highlights of a tentative agreement Monday between the White House and Senate Minority Leader Mitch McConnell, R-Ky., aimed at averting wide tax increases and budget cuts scheduled to take effect in the new year. The measure would raise taxes by about $600 billion over 10 years compared with tax policies that expire at midnight Monday. […]

Tax bill packed with goodies for business

Tax bill packed with goodies for business

The massive new tax bill signed into law by President Barack Obama is filled with all kinds of holiday stocking stuffers for businesses: tax breaks for producing TV shows, grants for putting up windmills, rum subsidies for Puerto Rico and the Virgin Islands. There is even a tax break for people who buy race horses. […]

So, what does this tax bill stuff really mean for you?

So, what does this tax bill stuff really mean for you?

The new tax law signed by President Barack Obama Friday will spare millions of Americans from a big tax increase on Jan. 1. It also includes a new cut in Social Security payroll taxes next year. A look at how typical taxpayers will fare in 2011: ___ Taxpayer: A single person with no children, making […]

Surprise waiting for 13.4 million taxpayers in new bill

Surprise waiting for 13.4 million taxpayers in new bill

About 13.4 million taxpayers may be getting unexpected tax bills because they were awarded too much money under President Barack Obama‘s Making Work Pay tax credit, a government audit said Thursday. The tax credit, which expires Jan. 1, was designed to increase take-home pay by about $8 a week through new tax withholding tables. The […]

Obama pushes tax breaks

Obama pushes tax breaks

Just ahead of Tax Day, President Barack Obama is urging Americans to take advantage of tax credits for first-time homebuyers, college students and others. Obama used his weekly radio and Internet address Saturday to promote some of the tax benefits in last year’s stimulus bill, saying they could save people hundreds or even thousands of […]