Stimulus payout may come back to bite you at tax time
That little extra bit of money in the form of a larger paycheck tied to the Obama stimulus plan could end up taking a bite out of your federal income-tax refund or even leave you owing taxes, say observers. The stimulus plan lowered federal income-tax withholding rates, which results in more take-home pay but less money going toward taxes. The downside is some taxpayers may end up with not enough taxes being withheld to cover what they owe in 2009. As a result, some taxpayers may need to increase their withholding amount by reducing the number of allowances claimed for...
Original Article: Forum: News/Activism
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