Recovery Act Tax Tool
The government has launched a new interactive tax savings tool, Recovery Act Tax Savings Tool , on the White House's Web site. The tool is intended to help people better understand the range of tax credits provided by American Recovery and Reinvestment Act of 2009. The tool provides links to relevant web sites and government resources to help taxpayers learn more about the benefits for which they may be eligible. According to WhiteHouse.gov, there are more than a dozen Recovery Act tax cuts working families can take advantage for the 2009-10 tax season. Among these are a tax credit of up to $2,500 for college expenses, a credit of up to $8,000 for first homes purchased by April 30, and up to $1,500 in tax credits for energy-efficiency home improvements.
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