Skip to main content

Vice President Biden Wants To Put Money In Your Pockets!

Launches New Tax Saving Tools

Vice President Joe Biden here with Treasury Secretary Tim Geithner (left) and IRS Commissioner Doug Shulman yesterday in the EEOB (Eisenhower Executive Office Building).  [Photo:  CD Brown for Politics. On Point.] 

Not to be left out of doing something good for the nation (this guy did have a major accomplishment this week), Vice President Joe Biden introduced the new Whitehouse.gov Tax Saving tool to help taxpayers take advantage of Recovery Act Tax Credits.

Under the plan taxpayers can claim up to $2,500 in college expenses, up to $8,000 for first time home buyers, $1,500 in energy efficiency and renewable energy incentives, and can also deduct state and local taxes on new car purchases.  The Earned Income Credit (EIC) with families with three or more children increases to $5,657.

There will also be up to $800 ($400 for singles) tax savings credit under the Making Work Pay system.

"The big guys know all the credits and deductions to claim during tax season, but we want middle class families to know just how much is out there for them this year thanks to the Recovery Act and how to take advantage of it", said the Vice President.

The average tax refund has reached $3,036 this year.  That figure is up $266 since 2009, a figure IRS Commissioner Doug Shulman related to the media during the briefing.

"The Recovery Act is a major factor behind these larger, record refunds.  About half of all Americans haven't filed their taxes yet, so we urge them to look carefully at these Recovery provisions."

Shulman encourages taxpayers to file their taxes electronically and have the refunds directly deposited into their bank accounts.

Administration officials are planning to take the message cross-country, leading up to the April 15th tax filing deadline.  Tomorrow (Wednesday) Secretary Duncan will meet with students at the NOVA Annandale campus to address the American Opportunity Credit for college expenses. 

Other stops include transportation secretary Ray LaHood hosting a community roundtable on Recovery Act tax relief on March 29th in Chicago.

For more info visit www.whitehouse.gov/recovery.
Labels:

Comments

Post a Comment

Popular posts from this blog

In wake of the Zika virus, travel, spring break still O.K.

Representatives from the CDC and the NIH were on hand at the White House during Monday's press briefing to update the public and address concerns over the Zika virus that has caused some babies to be born with deformities. Dr. Anne Schuchat from the Centers for Disease Control and Dr. Tony Fauci from the National Institutes of Health told reporters that a vaccine is in the making.   The pair also said they are particulary concerned about women who are pregnant, or plan to get pregnant, who have either traveled to or plan to travel to areas of South America and the Carribean known to have the Zika virus. Despite those bold statements, the doctors said there is no wide-spread concern and that Americans should continue to travel, including during upcoming college spring breaks --  when college students travel to warmer climate destinations to escape winter weather. "Travel to Zika-affected areas is very common among Americans, and we don’t think that needs to stop&quo
Post a Comment
Read more

(OTR): The White House on Hamas Terrorist Attack

 Tip: long read. FOR IMMEDIATE RELEASE October 10, 2023 VIRTUAL ON-THE-RECORD GAGGLE BY NSC COORDINATOR FOR STRATEGIC COMMUNICATIONS JOHN KIRBY ON HAMAS TERRORIST ATTACKS IN ISRAEL   Via Teleconference 5:54 P.M. EDT   MR. KIRBY:  Good evening, everybody.  As you know, the White House has been closely following the situation in Israel, and the President has been actively engaged, regularly receiving updates on the latest developments from the national security team.  In fact, this morning, he met with members of the senior team -- including the Secretary of State; National Security Advisor; the Principal Deputy National Security Advisor; the Homeland Security Advisor, Liz Sherwood-Randall; and, of course, the White House Chief of Staff, Jeff Zients -- all to receive the latest update from -- from the morning.   ADVERTISEMENT CMB BUSINESS SOLUTIONS   He has also spoken twice with Prime Minister Netanyahu this -- over the weekend, certainly to express our deep sympathy for all those missi
Post a Comment
Read more

President Biden's EV Agenda

  Electric Vehicles   President Biden’s Investing in America Agenda is Unleashing a Manufacturing and Clean Energy Boom and Accelerating the Production of Affordable Electric Vehicles   As part of President Biden’s goal of having 50 percent of all new vehicle sales be electric by 2030, the White House is announcing the first set of public and private commitments to support America's historic transition to electric vehicles (EV) under the EV Acceleration Challenge.   ADVERTISEMENT CMB BUSINESS SOLUTIONS These commitments are part of President Biden's  Investing in America  agenda to spur domestic manufacturing, strengthen supply chains, boost U.S. competitiveness and create good-paying jobs. Because of President Biden’s leadership and historic investments, electric vehicle sales have tripled and the number of publicly available charging ports has grown by over 40 percent since he took office. There are now more than three million EVs on the road and over 135,000 public EV charg
Post a Comment
Read more