Your Tax Breaks Have Been “Sweetened” By 2008 Economic Bailout Legislation

Economic Stimulus

You might not realize it, but the big bailout bill for the U.S. financial system also contained some goodies for the average taxpayer.

Congress added them as “sweeteners” to help the legislation go down smoothly with disgruntled constituents.

Taxpayers can be forgiven, however, if they don’t seem particularly knowledgeable or grateful about the tax sugarcoating. Most of the changes simply extended existing tax breaks that were about to expire.

These include deductions for teachers and for families with college students, as well as a credit for making energy efficient home improvements.

In this rough-and-tumble economy, this passes as good news: You’ve still got something that you didn’t know you were in danger of losing.

Comments (0) Leave your comment

  1. I WAS NOTIFIED BY THE SELLER OF A HIGH EFFICIENCY AIR CONDITIONER, THAT THE IRS IS ALLOWING A 30% REBATE. HOW WILL THIS APPLY TO THE YEAR 2008.
    M POLLAND

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