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Average Income Tax Refund Is Up 10%

Americans can expect to receive a 10% increase in their tax refunds from last year. Average refunds are $3,036, up $266.

The reason for the increase stems from the wide array of tax credits offered in the Obama administration's Recovery Act. Here are some of the credits:

  • $400 for qualified individual workers, or $800 for married couples
  • $2,500 credit for certain college expenses
  • up to $8,000 for first time home buyers and $6,500 for repeat home buyers
  • a deduction for state and local taxes on the purchase of a new vehicle
  • a tax break for unemployment benefits; the first $2,500 of jobless benefits received in 2009 are not taxed.

There has been much confusion among taxpayers about exactly what the benefits are and how to file the proper tax forms to get them.

Continue reading Average Income Tax Refund Is Up 10%

Today in Money & Finance - 3/13 - Top dividend-paying stocks, how to live like a billionaire & $2 billion in unclaimed refunds

In the News:
BloggingStocks:

8 Stocks With Rising Dividends
Dividend-paying stocks don't have to be stodgy. Whether you're 25 or 75, you can use dividend trends to flag solid growth companies run by managers who truly care about their shareholders. These include M&T Bank, W.W. Grainger, Harley-Davidson, Johnson Controls, Seaspan, Praxair, Fastenal and Expeditors International.
The Lure of Rising Dividends - Kiplinger.com


How to Live Like a Billionaire

What does it take to live the life of luxury like one of the world's billionaires? First you need a Gulfstream IV private plane, luxury yacht like the Wally 107, private island, sports car, centurion AmEx, palatial estate, domestic help, private chef, your own sports team and more.
How To Live Like A Billionaire - Forbes.com


$2 Billion in Unclaimed Tax Refunds Could Be Yours

Three years ago 1.8 million individuals decided they had better things to do than file their 2003 tax returns, even though they were due refunds. In total, more than $2.2 billion from that tax year is still sitting in the Internal Revenue Service account. If you think you are one of these 1.8 million people you've only got a few more weeks to claim it.
IRS holding billions in old, unclaimed tax refunds State-By-State Breakdown of Unclaimed Refunds


Take the Sting Out of Credit Card 'Gotchas'

Americans use credit cards to pay for everything from groceries to speeding tickets. But they're increasingly besieged by colossal fees and interest-rate increases that seem to hit them without warning or justification. Under scrutiny from the Democrat-led Congress, which held hearings on credit card practices last week banks also are feeling competitive pressure to become more consumer friendly. Some unpopular practices that credit card issuers are abandoning include: double billing and universal default.
How to Keep Your Credit Card Costs Down - USATODAY.com


Generic Doesn't Always Mean Cheap

At a time when policy makers are searching for ways to cut health-care costs, generic drugs are often viewed as one of the most straightforward solutions. But prices can vary wildly, and may not be nearly as cheap as expected.
Why Generic Doesn't Always Mean Cheap - WSJ.com

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Last updated: February 11, 2012: 03:15 PM

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