Report: Income Tax Refunds Up From Last Year
By: Amy Mearkle
Updated: March 22, 2010
WASHINGTON, D.C. -- Many Americans are getting a bigger tax return from the government this year.
IRS Commissioner Douglas Shulman tells "USA Today" the average income tax refund through March 12th was a record $3,036.00. That's up nearly 10% from a year ago.
Shulman says tax credits included in the economic stimulus package were a big factor in the increase.
The Recovery and Reinvestment Act of 2009 gave out $400.00 tax credits for individual workers and $800.00 credits for married couples.
There were also big tax credits for first-time home buyers, car buyers and college students, as well as tax breaks for unemployed Americans and increases in the Earned Income Tax Credit and the Child Tax Credit.
Vice President Joe Biden is expected to talk about the tax refund increases on Monday, March 22, 2010.
(Copyright 2010 by VERTEXNews/Newsroom Solutions)
