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News » 'Making Work Pay' credit hitting some at tax time
Feb. 4, 2010
A piece of the federal stimulus program could lead to smaller income tax refunds.
Last spring, the federal government withheld less money from paychecks to give people an extra $400 throughout the year, to stimulate the economy.
Christopher Miller is a spokesman for the IRS, and he says it is only affecting some taxpayers. He says they should review their withholdings, because the credit continues through this yera.
Miller says the stimulus program also included a number of new deductions. He says they're all listed on the IRS Web site. He says the new credits include the first-time home buyer's tax credit. He says people can also claim the state and local taxes they paid on a new vehicle.
IRS Web site » |
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