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Tax Tips & News: tax cuts

Congress Finally Passed a Tax Deal

2 minutes read

Congress was finally able to come to an agreement regarding the tax cuts that were set to expire at the end of this year.  They have passed a bill that will effect all income levels.   The bill will basically keep the Bush era tax cuts and allow for a few other tax saving provisions.  Lawmakers did not think it would be prudent to increase taxes in this economy and their plan is to give tax savings that will allow for economic growth.

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Half of Americans Will NOT Pay Taxes in 2010

4 minutes read

All is not well at the IRS.  According to the Tax Policy Center–and what is surely to exacerbate the Federal budget crisis-47% of American households will pay ZERO federal income taxes this year.

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