Turned up to eleven: Fair and Balanced

Monday, April 08, 2002

Just short posts today; Item the first:
A few weeks ago, (or maybe months) Paul Krugman wrote a column about how many people were messing up their taxes because of the "rebate" they received in the fall. In case anyone was interested, here is the link to the IRS web site. The obligatory quote;

The credit and the Advance Payments are how the new law gives one of its main benefits for 2001 - a 10 percent tax rate. Instead of having people wait until they file their 2001 tax returns to get a larger refund, the law provided for Advance Payments to be made last year, based on the returns for 2000. If the 2001 income and filing status would give a larger benefit than the Advance Payment, the taxpayer may claim the difference as a Rate Reduction Credit on the 2001 return.

End of Discussion