$500 tax break is in the works
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WASHINGTON -- In a breakthrough that could mean a $500 bonus for thousands of Washington state taxpayers, congressional negotiators yesterday agreed to allow state sales taxes to be deducted from federal returns for the first time since 1986.
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Americans of every income have benefited from a drop in federal income tax rates as Bush administration tax cuts enacted since 2000 took effect, an independent analysis of newly released IRS data shows. But those earning $75,000 to $500,000 are shouldering a larger share of total taxes.
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Taxpayers, walk away from the gift wrap and pick up your pencils. You have less than a month to strategize your way out of the alternative minimum tax for 2006.
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House tax writers will consider small business tax cuts worth $1.3 billion over 10 years in hopes of freeing minimum wage legislation currently stuck in an impasse between the House and Senate.
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A last minute scramble by U.S. lawmakers to prevent millions of unsuspecting middle income families from being hit with a tax for the very rich shows just how broken the U.S. tax code has become.
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The chairman of the Senate Finance Committee yesterday unveiled a rival plan to stimulate the economy, offering a $500 check to virtually every American -- including low-income seniors and rich financiers -- in a direct challenge to the bipartisan deal reached last week by President Bush and House...
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House tax writers will consider more than $1.5 billion in small business tax cuts next week in hopes of freeing minimum wage legislation currently stuck in an impasses between the House and Senate.
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Millions of Americans will have to delay filing their tax returns next year until mid-February -- a month later than usual -- because Congress took so long to repair the alternative minimum tax.
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Got winners? Got losers? Now's the time to consider matching them up to save a tax dollar or two.
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The tax bill passed last week that would reduce taxes at two military contractors by nearly $500 million over 10 years.
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Nearly $2.2 billion awaits taxpayers who neglected to file income tax returns for 2003, but that windfall will be lost if they don't act by tax day, April 17.
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When the tax bill is coming due, it can pay to sell low.
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The alternative minimum tax has ensnared a growing number of middle-class Americans in recent years.
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Strategies to limit tax bills for Americans living overseas.
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The rescue package includes rebates for taxpayers and tax breaks for businesses that lawmakers and President Bush hope will set off a rush of springtime spending.
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Some tax planning can be a particularly smart move over the next two weeks.
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A tax rebate is at the center of a plan to stimulate a flagging economy.