4/14/2010- For Tax Day, Sires Highlights Tax Cuts for New Jerseyans

For Immediate Release                                                 Contact: Erica Daughtrey

April 14, 2010                                                              201-222-2828

Washington, DC-- Today, as Americans file their income taxes for 2009, Congressman Sires emphasized the 25 different tax cuts included in the Recovery Act that New Jerseyans were able to take advantage of this tax season, which were part of the more than $800 billion in tax cuts for working families and small businesses that Congress has passed since last year.

“It is important that everyone is aware of the large amount of tax breaks included in the Recovery Act.  The Making Work Pay tax credit alone provided 95% of all American workers with a tax cut- including 254,000 residents in the 13th District through a reduction in tax withholdings by their employer,” stated Congressman Sires.  “Additionally, many taxpayers in the 13th District qualified for a variety of other generous tax breaks offered over the past year, including tax credits to assist in paying for college, a new house or car, and energy-efficiency improvements.”

Specifically, individuals across the country could claim $400 for an individual and $800 for married couples filing jointly in their 2009 paychecks from the Making Work Pay tax credit, up to $2,500 in tax credits for eligible families and students to help pay for college, and up to $8,000 in a tax credit for first-time home homebuyers.

Individuals were also eligible for up to $1,500 in tax credits for energy-efficient upgrades to their homes, as well as a vehicle sales tax deduction for new vehicles purchased last year.  Furthermore, an expansion of the Earned Income tax Credit and Child Tax Credit for moderate income families was provided over the past year, and for those individuals who received unemployment insurance in 2009 they are exempt from paying taxes on the first $2,400 of such earnings.

The IRS has postponed until May 11 the tax deadlines for counties designated as federal disaster areas, including Essex, Middlesex, and Union counties.

For further information about filing for an extension on your income taxes visit www.irs.gov and to find out what tax cuts you may qualify for, view the White House online tax calculator at https://www.whitehouse.gov/recovery/tax-saving-tool

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