Important Stimulus Links
 | The primary site that lets you, the taxpayer, see how the money is dispersed through the American Recovery and Reinvestment Act is www.recovery.gov. Through this electronic portal, you may navigate to the federal and state agency sites. Some of the most used direct links are listed below: |
State of Florida Updates |
| In the Governor’s $66.5 billion budget, currently $4.7 billion is in federal stimulus money . |
Quick Tax Facts | ||
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General Tax Relief | ||
Provision | In Effect | Impact |
| Making Work Pay Credit | 2009-2010 | Provides individuals with a refundable credit equal to the lesser of 6.2% of the taxpayer’s earned income or $400 ($800 for joint filers), phased out for modified AGI above $75,000 ($150,000 for joint filers). |
| First-Time Homebuyer Credit | 1/1/09 - 11/30/09 | Extends the credit for purchases before 12/1/09, increases the maximum credit amount to $8,000 ($4,000 for married taxpayers filing separately), and generally waives the repayment requirement for purchases in 2009. |
| Child Tax Credit | 2009-2010 | Provides that refundable portion of child credit is calculated to apply to 15% of earned income in excess of $3,000. |
| Deduction for Tax on Purchase of Vehicle | 2/17/09 – 12/31/09 | Allows itemizers and non-itemizers to deduct state and local sales and excise taxes incurred on the purchase of most new motor vehicles. Purchase price limitation and phase-out based on income apply. |
| Suspension of Tax on Unemployment Comp. | 2009 | Excludes up to $2,400 of unemployment compensation from gross income. |