Tag Archives: American Recovery and Reinvestment Act

Social Security and Obama

Today TaxMama hears from Betty in North Carolina, who wants to know. “Are Social Security recipients going to receive anything from the Obama recovery package?”

Tax Provisions in the American Recovery and Reinvestment Act of 2009

Congress has approved and the President has signed new economic stimulus legislation, the American Recovery and Reinvestment Act of 2009. The IRS is implementing tax-related provisions of this new program as quickly as possible. Detailed information is currently available on the $400-to-$800 Making Work Pay Tax Credit and the Economic Recovery Payment, which is worth […]

News Release – Stimulus Package – Final Version Summary

CCH Special Tax Briefing Final Stimulus Plan Provides Tax Breaks For Individuals, Businesses, Environment, Government (RIVERWOODS, ILL., February 13, 2009) – Senate and House conferees have agreed on the final provisions of The American Recovery and Reinvestment Act of 2009, the major “economic stimulus” measure of the new Obama administration, according to CCH, a Wolters […]

Outline of Economic Recovery Package from House Ways and Means Committee

An outline of the provisions under the Ways and Means Committee’s Jurisdiction included in the Economic Recovery package follows: Tax Relief for Individuals · “Making Work Pay Credit” · Expand Earned Income Tax Credit (EITC) · Increase in child tax credit, $0 floor Education · Simplification of education credits w/ $2,500 credit for first four […]

Small Businesses Benefit from 2008 Economic Stimulus Act Depreciation Provisions

Courtesy of John Berger at the Internal Revenue Service Businesses that have bought assets – or are planning to do so – in 2008 can benefit from the same legislation that is delivering payments to individuals this year. The Economic Stimulus Act of 2008 increased the maximum amount for depreciation under section 179 of the […]