Millions of couples, retirees may have to repay some of Obama tax credit

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INSIDE WASHINGTON: Taxpayers to get rude surprise
INSIDE WASHINGTON: Millions of couples, retirees may have to repay some of Obama tax credit

WASHINGTON (AP) -- Millions of Americans enjoying their small windfall from President Barack Obama's "Making Work Pay" tax credit are in for an unpleasant surprise next spring.

The government is going to want some of that money back.

The tax credit is supposed to provide up to $400 to individuals and $800 to married couples as part of the massive economic recovery package enacted in February. Most workers started receiving the credit through small increases in their paychecks in the past month.





At-risk taxpayers include a broad swath of the public: married couples in which both spouses work; workers with more than one job; retirees who have federal income taxes withheld from their pension payments and Social Security recipients with jobs that provide taxable income.

The Internal Revenue Service acknowledges problems with the withholding tables but has done little to warn average taxpayers.

http://finance.yahoo.com/news/INSIDE...1434.html?.v=1


I wonder how O is going to spin this? I bet somehow it will be the fault of
1. The Republicans
2. The Bush Administration
3. It wasn't his fault followed by a long speech, if fact so long we all forget and fall asleep.

Im still waiting to see his saving im supposed to get, we'll see!

NonConformist wrote:Im still waiting to see his saving im supposed to get, we'll see!

You know he going to put it to the producers so the non-producers can mooch.

My wife said we are making like 6 bucks extra a week

Wow, he sure saved me LOL thats a whopping $288 bucks and yet they made fun of Bushs tax cuts that saved us around $600 bucks last year

NonConformist wrote:My wife said we are making like 6 bucks extra a week

Wow, he sure saved me LOL thats a whopping $288 bucks and yet they made fun of Bushs tax cuts that saved us around $600 bucks last year

I dread the Cap and tax er I mean trade ,that 6 bucks will not even come close to covering it