2008 Taxes

Category Archives: Stimulus Bill

Income that is Not Taxable

Almost all income earned by American citizens is taxable but there are some exceptions that the IRS makes based on taw law. Some forms of income that the IRS deems not to be nontaxable include adoption expense reimbursements, child support, gifts, worker’s compensation benefits, welfare benefits, and economic stimulus payments received during the last tax year.

  • Share/Bookmark

Federal Stimulus Bill Provides Tax Benefits

The American Recovery and Reinvestment Act also known as the Federal Stimulus Bill provides a number of new benefits for tax payers and the unemployed. Included in the new federal law is an AMT patch, First Time Home Buyer Credit, and a Car Buyer Tax Deduction.

  • Share/Bookmark
u comment, i follow