Millions Will Have to Repay Part of Obama Tax Credit
Stephen Ohlemacher, AP/Congressional Quarterly
More than 15 million taxpayers may owe the government $250 or more because of how the IRS last spring set up President Barack Obama's tax break that was designed to help consumers spend the U.S. economy out of recession.
Individuals with more than one job and married couples in which both spouses work may have to repay the government $400, either through a smaller tax refund or a larger tax bill, according to a report released Monday by the Treasury Department's inspector general for tax administration. Social Security recipients who also earn taxable wages may have to repay $250.
Asked by Anonymous at 11:22 AM on Nov. 19, 2009 in Politics & Current Events
Answer by Anonymous at 11:23 AM on Nov. 19, 2009
Answer by Anonymous at 11:25 AM on Nov. 19, 2009
Answer by Anonymous at 11:28 AM on Nov. 19, 2009
This is the IRS fault, how is it dofferent from the $600 spend out of debt from Bush?
Answer by Anonymous at 11:29 AM on Nov. 19, 2009
Answer by Anonymous at 11:33 AM on Nov. 19, 2009
Answer by yourspecialkid at 11:33 AM on Nov. 19, 2009
Answer by Anonymous at 11:35 AM on Nov. 19, 2009
Oh, I am sure it will be more that is expected to be paid back than people got in the first place.
Hey, in light of this informative information, let's hand over health care and the environment to government, since they obviously know what they are doing.
Answer by QuinnMae at 11:37 AM on Nov. 19, 2009
Informative information? LOL, nothing like being a little redundant. Sorry for the repetition.
Answer by QuinnMae at 11:43 AM on Nov. 19, 2009
Answer by yourspecialkid at 11:57 AM on Nov. 19, 2009
Next question overall
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