tax overpayments
Americans Are Overpaying Billions via Unclaimed Tax Breaks
19/10/07 06:49 Filed in: RETIREMENT FINANCIAL HEALTH
by Tom Herman
Friday, October 19, 2007
The Wall Street Journal
Many Fail to Claim Deductions Tied To Local Outlays
Millions of people overlooked an important tax break and made other costly mistakes earlier this year on their 2006 returns, according to a recent report by the U.S. Treasury Inspector General for Tax Administration, a Treasury Department unit.
For example, nearly 2.1 million taxpayers who were eligible to deduct their state and local sales taxes didn't do so, up 50% from the previous year. These people missed taking advantage of potentially $3.6 billion in deductions,
Friday, October 19, 2007
The Wall Street Journal
Many Fail to Claim Deductions Tied To Local Outlays
Millions of people overlooked an important tax break and made other costly mistakes earlier this year on their 2006 returns, according to a recent report by the U.S. Treasury Inspector General for Tax Administration, a Treasury Department unit.
For example, nearly 2.1 million taxpayers who were eligible to deduct their state and local sales taxes didn't do so, up 50% from the previous year. These people missed taking advantage of potentially $3.6 billion in deductions,