The reported stimulus compromise includes the following tax provisions: Making Work Pay Credit: $400 for singles (phased-out at $75,000) and $800 for couples (phased-out at $150,000). AMT Patch for 2009 Tax deduction for sales tax on new car purchases Repayment requirement for Homebuyer Credit eliminated on homes purchased from Jan. 1 to Aug. 31 College tax credit for up to $2,500 (partially refundable) Expansion of EITC Partial exclusion from AGI for unemployment compensation benefits Extension of certain bonus depreciation provisions More analysis to come…
