With Tax Day approaching, Locke highlighted an online tool to help families determine their eligibility for new tax benefits Remarks Fact Sheet U.S. Commerce Secretary Gary Locke participated in a roundtable discussion in Minneapolis today to raise awareness of the new tax credits available to American families as a result of the American Recovery and Reinvestment Act. Locke was joined in the discussion by Minneapolis Mayor R.T. Rybak and several Minnesotans who have taken advantage of many of the new tax credits.
“Already tax refunds are up an average of nearly $300 this year—due in large part to Recovery Act benefits,” Locke said. “With tax time almost upon us, it is critically important for everyone to know that these tax incentives can be claimed for purchases made in 2009, and will continue throughout 2010.” Yesterday, the IRS reported that the average tax refund has increased nearly 10 percent for 2009, but families are often not fully aware of all tax code changes and miss out on taking advantage of them. With more than a dozen new tax benefits available to taxpayers and businesses, it is important that all American families know about them in order to achieve as much personal tax savings as possible.
“As a city with a large and stable middle class, Minneapolis knows well the need to continuously invest in our families and businesses to grow our economy,” said Rybak. “At a time when we needed it most, the Obama administration stepped in and stepped up to rebuild our economy by delivering tax breaks directly to middle class families. In the process, in cities like Minneapolis, we helped families buy their first homes, we helped homeowners improve the energy efficiency of their homes, and we created thousands of jobs for the new clean energy economy.” A helpful tool is available on the White House Web site to guide American taxpayers through the new tax benefits and help determine if they are eligible for savings. The Tax Savings Tool can be found here: www.WhiteHouse.gov/Recovery.
Taxpayers can collect more than a dozen 2009 Recovery Act tax benefits when they file their 2009 tax returns, including: Minneapolis Mayor R.T. Rybak Pastor Patrick Hansel and Pastor Luisa Cabello Hansel—local homeowners who hosted the discussion and took advantage of the first-time homebuyers tax credit Shannon Guernsey—local homeowner who took advantage of energy efficiency tax credits to make home upgrades Tina Maynard—Service Coordinator at Centraire Heating & Air Conditioning in Eden Prairie, Minnesota.
Source: U.S. Department of Commerce
