Take Advantage of Recovery Act Tax Credits

The White House has launched an Tax Savings Tool on its website to assist middle-class taxpayers in getting the most out of the various Recovery Act tax credits.

The tax wizard asks for input about one’s  filing status, salary range, recent home purchases, college expenses, and other questions relating to various tax credits provided by the Recovery Act.

Vice President Biden stated that “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.  From help with college expenses to credits for cost-saving, energy-efficiency home improvements, these Recovery Act tax credits not only provide some needed relief for working Americans, but also help them invest in their families’ futures.”

Thanks to Brian Dooley, CPA, for this news.