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TAX LAW NEWS - TAX LITIGATION
From the category archives:
Washington — U.S. Sen. Charles Schumer, D-NY, announced Wednesday that a college tuition tax credit for middle class families set to expire at the close of this year will likely extend until the end of 2012.
The tax credit started in 2009 as part of the American Recovery and Reinvestment Act. Schumer said once the tax [...]
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Millions of additional people may be able to take advantage of the new and improved first-time home-buyer tax credit now, and it’s not just for first-time home buyers anymore. You may qualify.
President Obama signed legislation Friday to extend unemployment benefits to American workers. The law also includes provisions that vastly expand the number of people [...]
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Relief is on the way for unemployed Americans whose benefits were set to expire.
The House of Representatives approved a bill that includes a provision that will extendunemployment benefits for up to 20 weeks in states with high unemployment rates.
The Senate passed the measure 98-0 late yesterday. The bill is expected to land on the president’s [...]
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Utahns can grab a clean-air tax credit for buying a factory-made compressed natural gas car like a Honda Civic GX, or for driving a gas-electric hybrid such as a Toyota Prius.
They can even catch a break with regulator-approved compressed natural gas conversion kits for a truck or minivan.
But if they go all out for cleanliness, [...]
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This week, President Obama signed into law the Car Allowance Rebate System (C.A.R.S.) – a program that pays consumers up to $4,500 in tax credit for trading in their cars or trucks for more fuel efficient vehicles.
As the New York Times reports, you will need to check if your vehicle qualifies for the trade-in [...]
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Earlier this year when federal lawmakers voted to give first-time homebuyers a tax incentive, they hoped the move would boost home sales.
And that seems to be happening.
The offer of an $8,000 tax credit – combined with low mortgage rates – has lured thousands of buyers to the beleaguered housing market.
Keller resident Joe Palacios is one [...]
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In a policy change that could benefit thousands of people, the federal government announced Friday that its tax credit for first-time homebuyers can now be used to help pay closing costs on mortgages insured by the Federal Housing Administration.
The economic stimulus bill passed in February allows first-time homebuyers a tax credit equal to 10 percent [...]
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In many cases situations involving divorce, or those where a child is born of two parents who are not married, there is a question about who is allowed to take the child as an exemption on their income tax return. With the exemption at $3,650, and a potential tax credit of up to $1,000 per [...]
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Adoption credit. The credit allowed for an adoption of a child with special needs is $11,390 and the maximum credit allowed for other adoptions is the amount of qualified adoption expenses up to $11,390. The credit begins to phase out if you have modified adjusted gross income of $170,820 or more and is completely [...]
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