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Tuesday, January 27, 2009

About Taxes: A First Look at Obama's Recovery Tax Plan

About.com    Taxes
In the Spotlight | More Topics |
  from William Perez
The American Recovery and Reinvestment Act (HR 598) is the first major tax bill of the year and is currently working its way through Congress. The bill contains several tax breaks that were touted by President Obama during his campaign.
 
In the Spotlight
Tax Provisions in the American Recovery Act
The bill proposes a new tax credit called the Making Work Pay Tax Credit to offset part of an employee's FICA taxes (but doesn't apply to all workers). Also, the Hope education tax credit is reworked into the American Opportunity Tax Credit. The legislation also proposes to expand the child tax credit and earned income credit, and would revise the first-time home buyer tax credit....read more

 
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TurboTax Review
I've spend the last few days looking at TurboTax, both their online and desktop versions of this popular tax preparation program. As with previous versions, TurboTax provides plenty of content...read more

 
How Accurate is Tax Software Required to Be?
Does the IRS require tax preparation software to be accurate? Does it test software to ensure the numbers are calculated appropriately? We were surprised here at About.com to learn how thoroughly the IRS tests tax software...read more

 
 
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