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Federal Stimulus Bill Provides Tax Benefits

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.

AMT Patch

The Alternative Minimum Tax continues to affect more and more Americans as salaries gradually increase over time and the tax law does not adjust or index to inflation. In the recently enacted  stimulus bill, the federal government has patched the AMT law to keep levels similar … Read more at 2008 Taxes.

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