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Economic Indicators- Major Economic Indicators Latest NumbersConsumer Price Index (CPI): +0.2% in Jan 2010 News Release Historical Data Unemployment Rate: 9.7% in Jan 2010 News Release Historical Data Payroll Employment: -20,000(p) in Jan 2010 News Release Historical Data Average Hourly Earnings: +$0.04(p) in Jan 2010 News Release Historical Data Producer Price Index (PPI): +1.4%(p) in Jan 2010 News Release Historical […]
- Major Economic Indicators Latest Numbers
- Consumer News
- Toyota to Provide Additional Services to New York Customers Affected by Recent RecallsToyota Motor Sales, U.S.A., Inc. announced that it would provide additional services for New York Toyota and Lexus customers who are affected by Toyota’s recent recalls. These services are available to Toyota and Lexus owners in New York affected by current recalls involving sticking accelerator pedals, floor mat pedal entrapment, anti-lock brake system soft […]
- Toyota to Provide Additional Services to New York Customers Affected by Recent Recalls
- Economic Analysis
- Personal Income and Outlays, January 2010Personal income increased $11.4 billion, or 0.1 percent, and disposable personal income (DPI) decreased $47.6 billion, or 0.4 percent, in January, according to the Bureau of Economic Analysis. The decrease in DPI reflected an increase in federal nonwithheld income taxes. Personal consumption expenditures (PCE) increased $52.4 billion, or 0.5 percent. In Dece […]
- Personal Income and Outlays, January 2010
- Budget Office
- Using a Different Measure of Inflation for Indexing Federal Programs and the Tax CodeFederal laws try to protect taxpayers and recipients of government benefits from the effects of rising prices by specifying that dollar amounts in many parts of the tax code and in some programs be automatically adjusted—or indexed—for inflation. Without such indexing, a rise in the general level of prices would alter the effects of federal [...] […]
- Using a Different Measure of Inflation for Indexing Federal Programs and the Tax Code
- Economic Outlook
- H.R. 4691, Temporary Extension Act of 2010Cost estimate for the amendment in the nature of a substitute for H.R. 4691 as proposed by Senator Bunning on March 2, 2010 […]
- S. 1749, Cell Phone Contraband Act of 2010Cost estimate for the bill as reported by the Senate Committee on the Judiciary on February 2, 2010 […]
- H.R. 1769, Alpine Lakes Wilderness Additions and Prattand Middle Fork Snoqualmie Rivers Protection ActCost estimate for the bill as ordered reported by the House Committee on Natural Resources on February 24, 2010 […]
- H.R. 4003, Hudson River Valley Special Resource Study ActCost estimate for the bill as ordered reported by the Hose Committee on Natural Resources on February 24, 2010 […]
- H.R. 4213, American Workers, State, and Business Relief Act of 2010Cost estimate for the amendment as introduced as a substitute for H.R. 4213 […]
- H.R. 4691, Temporary Extension Act of 2010
Five Important Tax Credits
You might be eligible for a valuable tax credit. A tax credit is a dollar-for-dollar reduction of taxes owed. Some credits are even refundable, which means you might receive a refund rather than owe any taxes at all. Here are five popular tax credits you should consider before filing your 2009 Federal Income Tax Return:
The Earned Income Tax Credit is a refundable credit for certain people who work and have earned income from wages, self-employment or farming. Income, age and the number of qualifying children determine the amount of the credit. EITC reduces the amount of tax you owe and may also give you a refund. For more information see IRS Publication 596, Earned Income Credit.
The Child and Dependent Care Credit is for expenses paid for the care of your qualifying children under age 13, or for a disabled spouse or dependent, to enable you to work or look for work. For more information, see IRS Publication 503, Child and Dependent Care Expenses.
The Child Tax Credit is for people who have a qualifying child. The maximum amount of the credit is $1,000 for each qualifying child. This credit can be claimed in addition to the credit for child and dependent care expenses. For more information on the Child Tax Credit, see IRS Publication 972, Child Tax Credit.
The Retirement Savings Contributions Credit, also known as the Saver’s Credit, is designed to help low-to-moderate income workers save for retirement. You may qualify if your income is below a certain limit and you contribute to an IRA or workplace retirement plan, such as a 401(k) plan. The Saver’s Credit is available in addition to any other tax savings that apply. For more information, see IRS Publication 590, Individual Retirement Arrangements (IRAs).
The Health Coverage Tax Credit pays up to 80% of the health insurance premiums for eligible Trade Adjustment Assistance recipients and Pension Benefit Guaranty Corporation payees. You can complete IRS Form 8885, Health Coverage Tax Credit to claim the credit on your tax return. To determine if you’re qualified, or to find out how to receive the HCTC each month, visit IRS.gov and search for “HCTC.”