As a result of the late-breaking tax legislation signed into law at the end of December, the IRS has announced that taxpayers who itemize deductions and those claiming the Higher Education Tuition and Fees deduction or the Educator Expense Deduction will need to wait to file their 2010 tax return until at least mid-February.
President Obama has signed into law a sweeping tax bill that gives taxpayers some closure and certainty about their tax situation, at least for the next 2 years. The tax bill benefits a broad range of taxpayers by extending the current tax rates for the next two years, reinstating some expiring tax breaks, and offering longer-term help for the jobless.
Year after year, Black Friday is touted as a sort of shopper’s Super Bowl. A sale no consumer dare miss. And sure enough, this year is no different. Every advertising channel – from newspapers to billboards to commercials – are hyping up what a killer savings opportunity November 26th will bring. But does Black Friday truly live up to its reputation? Read on – the answer may surprise you.
The Internal Revenue Service says it has $164.6 million in undelivered refund checks that belong to about 111,893 taxpayers. Most of that unclaimed money is sitting at the IRS due to mailing address errors.
California Governor Schwarzenegger signed into law a bill that will provide tax relief for California taxpayers whose mortgage debt on their primary residence was partly or entirely forgiven by lenders in 2009.
With unemployment above 10%, the president is looking for more ways to stimulate the economy with tax cuts, especially for middle class families who feel the pinch. The vice president’s Middle Class Task Force unveiled proposals this week to address the needs of those middle class families.