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Schedule M: The 2010 Tax Credit Explained [VIDEO]

"M" may stand for "money." Part of the 2009 stimulus package was President Barack Obama's Making Work Pay tax credit, or Schedule M, which adjusted federal withholding tables to increase take-home pay by up to $400 for working individuals and up to $800 for working married couples. As the New York Times reported last...

Senate Expected to Vote to Extend Tax Cuts

WASHINGTON (Dec. 15) -- The Senate cleared the decks Wednesday for a final vote on a sweeping tax package that would save millions of Americans thousands of dollars in higher taxes next year while also reducing their Social Security taxes and extending jobless benefits. The package will then go to the House, where...

Tax Cut Deal Advances in Senate

WASHINGTON (Dec. 13) -- Far-reaching legislation to avert a Jan. 1 income-tax increase for millions won overwhelming support in a Senate test vote on Monday, backed by an uneasy and unusual alliance between the White House and lawmakers in both parties. Even before the vote was complete, President Barack Obama said the...

Opinion: Voters Send Mixed Messages on Budget Initiatives

(Nov. 4) -- Anyone trying to figure out what message voters were sending this election about taxes and spending won't find easy answers in results from state-level ballot propositions. While Republicans won governorships and state legislatures across the country, voters were apparently in no mood to tell their newly...

Opinion: Here Comes the Debate Over Letting Tax Cuts Expire

(July 27) -- On Sunday, Treasury Secretary Tim Geithner appeared on "This Week" to discuss what The New York Times declares will be Washington's "next big battle" -- the expiration of Bush-era tax cuts. The Obama administration is leading a Democratic move to let the cuts for the upper tax brackets expire, extending the...