November 5, 2010
Treasury Announces Build America Bonds issuances Surpass $150 Billion
Recovery Act Bonds Program Provides Infrastructure Financing to State and Local Governments, Saving Billions Compared to Tax Exempt Bonds
The U.S. Department of the Treasury today released its comprehensive monthly update on Build America Bonds issuances, including state-by-state data, showing that more than $150 billion have been issued through October 31, 2010. Build America Bond issuers benefit from substantial savings in borrowing costs when compared to issuing tax-exempt debt. Read the full release.
October 15, 2010
Joint Statement of Treasury Secretary Tim Geithner and OMB Acting Director Jeffrey Zients
Joint Statement of Timothy Geithner, Secretary of the Treasury, and Jeffrey Zients, Acting Director of the Office of Management and Budget, on Budget Results for Fiscal Year 2010.
U.S. Treasury Secretary Tim Geithner and Office of Management and Budget (OMB) Acting Director Jeffrey Zients today released details of the final fiscal year (FY) 2010 budget results. In making the announcement, Geithner and Zients underscored the Administration's commitment to getting Federal finances back on a sustainable path and ending emergency programs that proved instrumental to reviving growth while beginning the process of bringing down our deficit. As a result, our fiscal outlook, which remains challenging, has improved over the past year. Read the full release.
September 21, 2010
Assistant Secretary Krueger Testimony Before Senate Banking, Housing and Urban Affairs Committee
Assistant Secretary for Economic Policy and Chief Economist Testimony Before the Senate Banking, Housing and Urban Affairs Committee
Thank you Chairman Dodd, Ranking Member Shelby and distinguished members of the Committee for inviting me to testify before your committee today. I appreciate the opportunity to discuss proposals to improve our nation's infrastructure investment and finance system. Read the full release.
July 27, 2010
New Report Shows States Have Awarded More Than $4 Billion in Recovery Act Funds
New Report Shows States Have Awarded More Than $4 Billion in Recovery Act Funds to Create Jobs, Build Affordable Housing: Report Shows More Than 80,000 Jobs Saved or Created to Build and Rehabilitate
The U.S. Department of the Treasury today released a new report showing that through June 30, states have awarded more than $4.1 billion in funds under the American Recovery and Reinvestment Act (Recovery Act) to provide affordable housing. This funding has saved or created more than 80,000 jobs to build or rehabilitate those housing units. Read the full release.
June 29, 2010
Assistant Secretary Krueger's Speech to the Charlotte Chamber of Commerce Summit
Assistant Secretary for Economic Policy and Chief Economist Alan Krueger Speech to Charlotte Chamber of Commerce's Summit on Access to Capital for Small Businesses and Entrepreneurs as Prepared for Delivery
Thank you, Bob Marshall for your kind introduction. I am pleased to be able to talk to you today because as an economist I know that small businesses and entrepreneurs are at the heart of sustainable job growth and prosperity in America. As an economist, I also understand the concept of opportunity cost, and I appreciate the time that everyone is taking to attend today's event. Read the full release.
June 3, 2010
Treasury Releases New Build America Bonds Data
Recovery Act Bonds Program Provides $106 Billion Nationally to Date,
Estimated to Save State and Local Governments Billions Compared to Tax Exempt Bonds
The U.S. Department of the Treasury today released its monthly comprehensive update on Build America Bonds issuances, including state-by-state data, showing $106 billion has been issued through May 31, 2010. Build America Bond issuers benefit from substantial savings in borrowing costs when compared to issuing tax-exempt debt. Read the full release.
May 19, 2010
New Report Shows Recovery Act Cobra Subsidy Helping Middle Class Families Maintain Health Insurance
Survey Provides First Profile of Individuals Using COBRA Subsidy;
80 Percent are Middle Class Families
The U.S. Department of the Treasury today released a new report showing that the COBRA health insurance subsidy provided under the American Recovery and Reinvestment Act (Recovery Act) has been especially important for middle class families by helping them maintain health insurance coverage during the recession. The analysis, conducted by the Treasury Department's Office of Economic Policy, provides the first summary of the profile of unemployed individuals who obtained continuing health insurance coverage with the help of the Recovery Act COBRA subsidy. Read the full release.
May 6, 2010
Treasury Releases New Build America Bonds Data
Recovery Act Bonds Program Provides Nearly $97 Billion Nationally to Date, Estimated to Save State and Local Governments Billions Compared to Tax Exempt Bonds
The U.S. Department of the Treasury today released its monthly comprehensive update on Build America Bonds issuances, including state-by-state data, showing nearly $97 billion have been issued through April 30, 2010. Build America Bond issuers benefit from substantial savings in borrowing costs when compared to issuing tax exempt debt. Read the full release.
April 2, 2010
Treasury Releases New Report on Build America Bonds
Recovery Act Bonds Program Provides More Than $90 Billion Nationally to Date, Estimated to Save State and Local Governments More Than $12 Billion
The U.S. Department of the Treasury today released a new report showing that the Build America Bonds program has resulted in significant savings in borrowing costs for state and local governments. The report finds that Build America Bond issuers will save more than $12 billion in borrowing costs on bonds issued during the first year of the program as compared to issuing tax exempt debt. In addition, the Treasury Department today released its monthly comprehensive update on Build America Bonds issuances, showing more than $90 billion have been issued through March 31, 2010. Read More.
April 1, 2010
Thirty Days and Counting: Treasury Reminds Potential Homebuyers of Deadline on Recovery Act Expanded Tax Credit
Up to $8,000 Available to Homebuyers Under Contract Before May 1, 2010
Credit Has Helped 1.8 Million Taxpayers Buy a New Home
The U.S. Department of the Treasury today reminds potential homeowners that they have 30 days left to take advantage of the First Time Homebuyer (FTHB) tax credit before it expires. The FTHB credit provides qualifying taxpayers with up to $8,000 to buy a new home and is available for home purchases under contract before May 1, 2010. Read More.
March 22, 2010
Secretary Geithner's Remarks at an Announcement about the Impact of Recovery Act Tax Cuts
I want to thank Doug Shulman and all the dedicated officers of the IRS for their hard work improving taxpayer service and making it easier for Americans to take advantage of the substantial tax benefits in the Recovery Act. Americans are still suffering a great deal from the damage caused by this recession. But because this President acted so quickly and forcefully, the economy is starting to expand again. Read More.
March 17, 2010
Treasury and Education Announce 2010 School Bond Allocation
Recovery Act Program Provides $11 Billion to Build Schools, Create Jobs Across the Country
The U.S. Department of Treasury and the Department of Education today announced $11 billion in allocation authority to issue qualified school construction bonds under the American Recovery and Reinvestment Act of 2009 (Recovery Act). Qualified school construction bonds can be used to finance the construction, rehabilitation or repair of a public school facility or for the acquisition of land where a school will be built. Read More.
March 10, 2010
Treasury, Energy Announce Guidance for Tax Treatment of Smart Grid Investment Grants
Clarifying Determination Paves the Way for Projects to Move Forward Quickly, Creating Jobs and Delivering Smart Grid Technology to Local Communities
The Department of Treasury and the Department of Energy announced today new guidance on the tax treatment for grantees receiving Recovery Act funding under the $3.4 billion Smart Grid Investment Grant program. Under the guidance released today, the Internal Revenue Service is providing a safe harbor under section 118(a) of the Internal Revenue Code for corporations receiving funding under the program. Read More.
March 4, 2010
Treasury Releases Build America Bonds Update
Build America Bonds Provide Nearly $78 Billion Nationally to Date
Report Details Cumulative, State by State Bond Issuances
Recovery Act Bond Program Boosts Economic Development
The Treasury Department today released its monthly comprehensive update on issuances of the Build America Bonds program, including state-by-state data. The Build America Bonds program is a financing tool created by the American Recovery and Reinvestment Act to allow state and local governments to obtain much-needed funding, at lower borrowing costs, for new capital projects such as construction of schools and hospitals, development of transportation infrastructure, and water and sewer upgrades. Read More.
February 19, 2010
Treasury Assistant Secretary, Tennessee Secretary of State Tout Benefits of Recovery Act School Construction Bonds
As part of an effort to mark the one year anniversary of the American Recovery and Reinvestment Act (Recovery Act) and highlight the local impact of Recovery Act programs, Treasury Assistant Secretary for Management and CFO Dan Tangherlini joined Tennessee Secretary of State Tre Hargett and other local and school officials today in Maryville, Tenn. to break ground on the construction of a new school funded with nearly $19 million in Qualified School Construction Bonds. Read More.
February 18, 2010
Treasury Secretary Geithner Announces Proposals to Extend and Enhance the New Markets Tax Credit
Demonstrating the Administration's commitment to economic recovery in America's hardest hit communities, Treasury Secretary Tim Geithner traveled to Raleigh-Durham today to meet with individual and small business recipients of New Markets Tax Credits (NMTC) to discuss how the credits can be used to attract additional investments to help revitalize distressed communities. Read More.
February 11, 2010
Treasury Announces $1 Billion in Recovery Act Bond Authority for Tribal Communities
The Treasury today announced $1 billion in stimulus bond authority under the American Recovery and Reinvestment Act (Recovery Act) for 76 tribes across the country. Tribal Economic Development Bonds (Tribal Bonds) help create jobs, complete projects, and bring much needed economic revitalization to Indian Country. Read More.
February 8, 2010
Treasury Releases Build America Bonds Update
As part of the effort to increase transparency in government and maintain accountability of funds allocated under the American Recovery and Reinvestment Act (Recovery Act), the Treasury Department today provided another comprehensive update on issuances of the Build America Bonds program, including state-by-state data. The Build America Bonds program is a new financing tool created by the Recovery Act to allow state and local governments to obtain much-needed funding, at lower borrowing costs, for projects such as construction of schools and hospitals, development of transportation infrastructure, and water and sewer upgrades. Read More.
January 6, 2010
U.S. Treasurer, Chicago Mayor Tout Benefits of Build America Bonds Program
As part of the Obama Administration's efforts to highlight the local impact of economic stimulus programs, U.S. Treasurer Rosie Rios and Chicago Mayor Richard Daley today visited a public school construction site in Chicago supported by the Build America Bonds program. In conjunction with this event, Treasury also issued updated state-by-state data showing that the Build America Bonds program has provided $64 billion in low-cost borrowing to date for state and local governments across the country. Read More.
December 22, 2009
Treasury Surpasses $4 Billion Milestone in Recovery Act Funds to Create Jobs, Provide Affordable Housing
As part of the Obama Administration's effort to strengthen communities and ease pressures on the housing market, the U.S. Department of the Treasury today announced that the American Recovery and Reinvestment Act (Recovery Act) has now provided more than $4 billion in funding to spur the development of affordable housing around the country. Read More.
December 16, 2009
Treasury Continues Local Outreach on Recovery Act�s Build American Bond Program
As part of the Obama Administration's effort to accelerate the implementation of American Recovery and Reinvestment Act (Recovery Act) programs, U.S. Treasurer Rosie Rios this week began a series of webinars to help raise awareness, discuss benefits, and solicit feedback on maximizing the effectiveness of the Recovery Act's bond programs. New data also released by Treasury this week show the Build America Bonds program already providing $55 billion in low-cost borrowing nationwide. Read More.
October 30, 2009
Treasury Awards $5 Billion to Encourage Private Sector Investments in Local Communities
As part of the Obama Administration's efforts to revive local economies, Treasury Secretary Tim Geithner today visited a job training center in Chicago benefiting from private sector investments made through the New Markets Tax Credit (NMTC) program. As part of his visit, Geithner announced $5 billion in NMTC awards, including $1.5 billion made possible through the American Recovery and Reinvestment Act (Recovery Act), for more than 90 organizations in communities around the country. Read More.
October 30, 2009
Secretary Timothy F. Geithner Press Conference Remarks on New Markets Tax Credits Announcement
Thank you, Rep. Davis. As you've said, "all the issues associated with poverty are pronounced" in your 7th District of Chicago. And all of them are harder to deal with because of the recent economic and financial crisis. Read More.
October 27, 2009
Treasury Allocates $2.2 Billion in Bonds for Renewable Energy Development
As part of the Obama Administration's efforts to spur renewable energy production, the U.S. Department of Treasury today announced the allocation of $2.2 billion in Clean Renewable Energy Bonds (CREBs) for 805 recipients across the country. Funded by the Energy Improvement and Extension Act of 2008 and the American Recovery and Reinvestment Act of 2009 (Recovery Act), these energy bonds help government agencies, public power providers, and cooperative electric companies obtain lower cost financing for clean energy development projects. Read More.
October 23, 2009
Treasury Surpasses $3 Billion in Recovery Act Funds for States to Provide Affordable Housing
As part of the Obama Administration's efforts to strengthen communities and ease pressures on the housing market, the U.S. Department of the Treasury today announced $284 million in American Recovery and Reinvestment Act (Recovery Act) funding to spur the development of affordable housing in California. Read More.
October 23, 2009
Treasury Surpasses $3 Billion in Recovery Act Funds for States to Provide Affordable Housing
As part of the Obama Administration�s efforts to strengthen communities and ease pressures on the housing market, the U.S. Department of the Treasury today announced $284 million in American Recovery and Reinvestment Act (Recovery Act) funding to spur the development of affordable housing in California. To date, 45 state housing authorities have been awarded a total of $3.1 billion in payments in lieu of tax credits for affordable housing projects. Read More.
October 5, 2009
Treasury Chief Economist, Congressman Rangel Tout Benefits of Build America Bonds
As part of the Obama Administration�s efforts to highlight the local impact of economic stimulus programs, Treasury�s Chief Economist and Assistant Secretary for Economic Policy Alan Krueger and Congressman Charles Rangel (NY-15) visited a subway construction site in New York City supported by the Build America Bonds program. In conjunction with this event, Treasury also issued updated state by state data showing that the Build America Bonds program has provided $35.6 billion in low-cost borrowing to date for state and local governments around the country. Read More.
September 22, 2009
Treasury, Energy Surpass $1 Billion Milestone in Recovery Act Awards for Clean Energy Projects
This morning, Treasury Secretary Tim Geithner and Energy Secretary Steven Chu hosted a group of clean energy developers and manufacturers at the White House to discuss how the American Recovery and Reinvestment Act (Recovery Act) is creating jobs and helping expand the development of clean, renewable domestic energy. At the meeting, Secretaries Geithner and Chu announced $550 million in new awards through the Recovery Act's 1603 program, bringing the total to more than $1 billion awarded to date to companies committed to investing in domestic renewable energy production. Read More.
September 15, 2009
Treasury, Governor Richardson Announce $1 Billion in Recovery Act Bond Authority for Tribal Communities
As part of the Obama Administration's efforts to highlight the local impact of the American Recovery and Reinvestment Act (Recovery Act), Treasury Deputy Secretary Neal Wolin and New Mexico Governor Bill Richardson today announced $1 billion in stimulus bond authority for 58 tribes across the country. Deputy Secretary Wolin and Governor Richardson visited the Indian Pueblo Cultural Center and met with local tribal leaders to discuss how Tribal Economic Development Bonds (Tribal Bonds) will be used to create jobs, complete projects, and bring much needed economic revitalization to Indian Country. Read More.
September 4, 2009
Treasury Highlights Recovery Act Impact
As part of an effort to highlight the success of the American Recovery and Reinvestment Act (Recovery Act) in revitalizing communities across the country, the U.S. Department of the Treasury today released a report providing state-by-state data on Treasury program funding. The report, issued around the 200 day anniversary of the Recovery Act, details funds provided to states, local communities, and families through a variety of programs, including the Making Work Pay Tax Credit, payments for renewable energy production, funds for affordable housing development, and Build America Bonds. Read More.
September 1, 2009
Treasury, Energy Announce $500 Million in Recovery Act Awards for Clean Energy Projects
Marking a major milestone in the effort to spur private sector investments in clean energy and create new jobs for America's workers, Treasury Secretary Tim Geithner and Energy Secretary Steven Chu today announced $502 million in the first round of awards from an American Recovery and Reinvestment Act (Recovery Act) program that provides cash assistance to energy production companies in place of earned tax credits. The new funding creates additional upfront capital, enabling companies to create jobs and begin construction that may have been stalled until now. Read More.
August 26, 2009
Treasury Announces $309 Million In Recovery Act Funds To Create Jobs, Provide Affordable Housing
As part of the Obama Administration's effort to strengthen communities and ease pressures on the housing market, the U.S. Department of the Treasury today announced $309 million in American Recovery and Reinvestment Act (Recovery Act) funding to spur the development of affordable housing units in Arizona, Connecticut, North Carolina, North Dakota, Pennsylvania, South Carolina, and Vermont. Read more.
August 20, 2009
Secretary Geithner, Governor Strickland Tout Benefits of Recovery Act School Bonds Program
As part of the Obama Administration's efforts to highlight the local impact of economic stimulus programs, Treasury Secretary Tim Geithner and Ohio Governor Ted Strickland today visited the construction site for a future school building funded through Qualified School Construction Bonds. Read more.
August 13, 2009
Treasury, Energy Announce more than $2 Billion in Recovery Act Tax Credits for Energy Manufacturers
As part of an innovative partnership aimed at increasing economic development while setting our nation on the path to energy independence, the U.S. Department of the Treasury and the U.S. Department of Energy today announced a program to award $2.3 billion in tax credits to manufacturers of advanced energy equipment. Authorized by the American Recovery and Reinvestment Act (Recovery Act), this new program will provide tax credits to manufacturers who produce clean energy equipment. Read more.
July 31, 2009
Treasury, Energy Now Accepting Applications for Funding for Renewable Energy Projects
With the goal of expanding development of renewable energy projects throughout the United States and creating new jobs, the U.S. Department of the Treasury and the U.S. Department of Energy today announced they are now accepting applications for a program that will make direct payments in lieu of tax credits to companies that create and place in service renewable energy facilities. Read more.
July 30, 2009
Treasury Announces Nearly $90 Million in Recovery Act Funds to Strengthen Communities, Provide Affordable Housing
As part of the Obama Administration's effort to strengthen communities and ease pressures on the housing market, the U.S. Department of the Treasury today announced nearly $90 million in American Recovery and Reinvestment Act (Recovery Act) funding to spur the development of affordable housing units in Colorado, Delaware, Illinois, Maine, and Nebraska. Read more.
July 22, 2009
Treasury Announces $600 Million in Recovery Act Funds for Working Families in Puerto Rico
As part of the American Recovery and Reinvestment Act (Recovery Act) effort to jumpstart the economy by providing tax cuts to working families, the U.S. Department of the Treasury today announced the disbursement to Puerto Rico of $600 million that is expected to benefit more than 1 million Puerto Rico worker. Read full release.
July 10, 2009
Treasury Announces $486 Million in Recovery Act Funds to Create Jobs, Provide Affordable Housing
As part of the Obama Administration's effort to create jobs and ease pressures on the housing market, the U.S. Department of the Treasury today announced $486 million in American Recovery and Reinvestment Act (Recovery Act) funding to spur the development of affordable housing units in Alabama, Arkansas, Connecticut, Georgia, Louisiana, Maryland, Massachusetts, Montana, New Hampshire, New Mexico, the Virgin Islands, and Vermont. Read full release.
July 9, 2009
Treasury, Energy Announce More than $3 Billion in Recovery Act Funds for Renewable Energy Projects
As part of an innovative partnership aimed at increasing economic development in urban and rural areas while setting our nation on the path to energy independence, the U.S. Department of the Treasury and the U.S. Department of Energy today announced an estimated $3 billion for the development of renewable energy projects around the country and made available the guidance businesses will need to submit a successful application. Read full release.
July 1, 2009
Treasury Awards $8 Million in Recovery Act Funding for Native Communities
As part of the Obama Administration's continued investment in economic development in communities around the country through the Recovery Act, Treasury's Community Development Financial Institutions (CDFI) Fund Director Donna J. Gambrell today announced $8 million in financial assistance awards for 10 CDFIs committed to serving economically distressed Native American, Alaska Native, and Native Hawaiian communities across the nation. Read full release.
June 29, 2009
Treasury Awards $90 Million in Recovery Act Funding for Community Development
As part of the Obama Administration's continued investment in economic development in communities around the country through the Recovery Act, Treasury Secretary Tim Geithner today announced $90 million in financial assistance awards for 59 Community Development Financial Institutions (CDFIs) in 26 states and Puerto Rico dedicated to helping communities hard hit by the economic crisis. Read full release.
June 22, 2009
Treasury announces $268 Million more in Recovery Act Funds to Create Jobs, Provide Affordable Housing
As part of the Obama Administration's effort to create jobs and ease pressures on the housing market, the U.S. Department of the Treasury today announced $268 million in American Recovery and Reinvestment Act (Recovery Act) funding to spur the development of affordable housing units in Indiana, Missouri, Tennessee, and Washington D.C. Read full release.
June 12, 2009
Treasury Announces $25 Billion in Direct Allocations of Recovery Zone Bonds
As part of the Obama Administration's efforts to stimulate economic growth and jumpstart the availability of financing critical for economic recovery, the U.S. Treasury Department announced $25 billion in bonds authority available under the Recovery Zone Bonds program. Read full release.
June 4, 2009
Treasury Announces $135 Million More in Recovery Act Funds to Create Jobs, Provide Affordable Housing
As part of the Obama Administration's effort to create jobs and ease pressures on the housing market, the U.S. Department of the Treasury today announced nearly $135 million in American Recovery and Reinvestment Act (Recovery Act) funding to spur the development of affordable housing units in Iowa, Maine, New Hampshire, Rhode Island, and Washington. Read full release.
May 27, 2009
Treasury Awards $1.5 Billion Through Recovery Act To Encourage Private Sector Investments In Communities Around The Country
Just 100 days since the President signed into law the American Recovery and Reinvestment Act (Recovery Act), Treasury Secretary Tim Geithner today announced $1.5 billion in New Markets Tax Credit (NMTC) awards for 32 organizations throughout the country. With resources made possible through the Recovery Act, the NMTC Program injects private-sector capital investment into communities around the country to create jobs, stimulate economic growth, and jumpstart the lending necessary for financial stability. Read full release; Information on the 32 Awardees
May 4, 2009
Treasury, HUD Announce Housing Grants Funded Through Recovery Act
As part of an innovative partnership aimed at job creation and easing the pressures on the housing market, the Department of the Treasury and Department of Housing and Urban Development (HUD) today jointly announced programs that will provide billions of dollars in recovery funds to spur the development of thousands of affordable housing units in states around the country. Funded through the American Recovery and Reinvestment Act (The Recovery Act), the programs together will provide approximately $5 billion for states to finance the acquisition and construction of affordable housing for working families. Read more
April 9, 2009
American Recovery and Reinvestment Act Payments
Under the American Recovery and Reinvestment Act, the Treasury Department's Financial Management Service (FMS) will issue more than 64 million one-time $250 payments to Social Security, Supplemental Security Income, Railroad Retirement and Veteran Affairs benefit recipients to make tough economic times a bit easier. Read more
April 3, 3009
Build America Bonds
The Internal Revenue Service today issued guidance on the new Build America Bond program. This program allows state and local governments to issue taxable bonds for capital projects and to receive a new direct federal subsidy payment from the Treasury Department for a portion of their borrowing costs. Read more
March 30, 2009
Special Tax Break Available for New Car Purchases This Year The Internal Revenue Service announced that taxpayers who buy a new passenger vehicle this year may be entitled to deduct state and local sales and excise taxes paid on the purchase on their 2009 tax returns next year. Read more
March 26, 2009
Investing in Americans
The federal government will send out $250 economic recovery payments to people who receive Social Security and Supplemental Security Income (SSI) benefits beginning in early May 2009 and continuing throughout the month. Payments will inject more than $13 Billion into Economy. Read more
March 18, 2009
Investing in Communities
The Treasury Department�s Community Development Financial Institutions (CDFI) Fund is releasing its implementation plan to award nearly $100 million in grants and $3 billion in additional tax credit authority to support community-based financial institutions. These awards, made available through the Recovery Act, will support loan funds, credit unions, banks, venture capital firms and other financing entities in serving our nation's most underserved populations and communities. Read more
March 16, 2009
Helping Small Business
The Internal Revenue Service announced today that small businesses with deductions exceeding their income in 2008 can use a new net operating loss tax provision to get a refund of taxes paid in prior years. To accommodate the change in tax law, the IRS today updated the instructions for two key forms � Forms 1045 and 1139 � that small businesses can use to make use of the special carryback provision for tax year 2008. These forms are used to accelerate the payment of refunds. Read more
February 26, 2009
Making Health Care More Affordable
The Internal Revenue Service released new, detailed information to help employers claim credit for the COBRA medical premiums they pay for their former employees. During his announcement of the Fiscal Year 2010 Budget, the President congratulated the IRS on implementing the new COBRA subsidy, which will help 7 million Americans who�ve lost their jobs keep their health care. Read more
February 25, 2009
Help for First-Time Homebuyers
In an ongoing effort to deliver on swift implementation of the Obama Administration's recovery, stability and affordability plans, the U.S. Department of the Treasury touted the availability of an expanded tax break for first-time homebuyers � a provision under the American Recovery and Reinvestment Act of 2009 that will make up to $8,000 available now to qualifying taxpayers who buy homes this year. Read more
February 25, 2009
Help for First-Time Homebuyers
The IRS announced that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 returns due April 15, or on their 2009 tax returns next year. Read more
February 21, 2009
Making Work Pay
The Internal Revenue Service released new withholding tables that will result in more take-home pay this spring for millions of American workers. For most taxpayers, the additional credit will automatically start showing up in their paychecks, without any action on their part. Read more
February 21, 2009
Making Work Pay
Four days after President Barack Obama signed the American Recovery and Reinvestment Act into law, the U.S. Department of the Treasury today began directing employers to reduce the amount of taxes withheld from the paychecks of millions of American workers � a step unprecedented in its speed and scope. Read more
February 21, 2009
The quickest and broadest tax cut ever
In his weekly address, President Obama announced that the American Recovery and Reinvestment act will start having an impact as soon as a few weeks from now, in the form of the quickest and broadest tax cut in history. Read more