News
Without permanent tax relief, millions of Americans will see their taxes go up by billions of dollars in 2011. Click Here.
One good thing about the tax cuts in the new law is that most people didn’t have to wait long to start seeing the savings. Employers have generally lowered the amount of federal tax withheld from their workers paychecks, reflecting lower tax rates for most people and a larger standard deduction for married couples. The Treasury mailed checks to most people who claimed the Child Tax Credit last year, as an advance payment of the credit’s increase. And these mailings will continue until the end of the year to eligible taxpayers who filed after April. If you claimed this credit on your 2002 tax return, you may be eligible for up to $400 for each qualifying child. That’s the difference between the old maximum credit of $600 and the new amount of $1,000. Click Here.
A new uniform definition of a qualifying child, special rules for car donations, higher standard mileage rates and expanded retirement savings incentives are among the changes individual taxpayers will find when they sit down to prepare their 2005 federal income tax return. Click Here.
You may soon have to pay the Alternative Minimum Tax, which increases your tax bill by knocking out a lot of exemptions, deductions, and credits you may have gotten used to, when doing your regular income taxes. Here are the answers to common questions about the dreaded AMT. Click Here.
Lawmakers failed to renew a number of popular tax breaks before they went off to campaign for re-election. Remember that when you go to vote.
I am really ticked off at Congress. You should be, too. It looks like political gaming has cost you and millions of other taxpayers a lot of money. Click Here.

