Recovery Act Tax Relief

The White House sent this out earlier this week:

Tax Savings – By the Numbers

$160 Billion - Tax relief provided through the Recovery Act so far to families and businesses.

Nearly $100 Billion - Tax relief provided through the Recovery Act so far that has gone directly in the pockets of working families.

Nearly $3,000 - The record average tax refund taxpayers are seeing this tax season.

Nearly 10% - The percentage average tax refunds are up this year - something the IRS says is largely due to Recovery Act tax credits.

36% - The percentage of taxpayers that have not yet filed their federal income tax returns and should be aware of the Recovery Act tax credits they may be eligible for.

64% - The percentage of taxpayers who have already filed their taxes, but can still amend them after April 15th to collect on any Recovery Act credits they may have missed.

95% - The percentage of working families benefiting from the Recovery Act's Making Work Pay tax credit, making it the broadest tax credit in the history of the country.

$800 - The amount most married couples are collecting through their paychecks this year thanks to the Recovery Act's Making Work Pay tax credit. Individuals collected $400 this year thanks to Making Work Pay.

Up to $2,500 - The expanded amount eligible taxpayers can collect with the American Opportunity Credit to help cover college expanses thanks to the Recovery Act.

Up to $8,000 - The amount new homebuyers can collect this year for purchasing their first home thanks to the Recovery Act's expansion of the First-Time Homebuyers Tax Credit.

Up to $1,500 - The amount homeowners can collect this year on improvements made to their homes like energy-efficient windows, doors and insulation thanks to Recovery Act tax credits.

$2,400 - The amount of 2009 unemployment benefits that taxpayers do NOT have to pay taxes on this year thanks to the Recovery Act.

Over $600 - The increase in Earned Income Tax Credit a single parent of three children making $15,700 in 2009 would collect this year thanks to the Recovery Act.

65% - The amount by which the Recovery Act cut the cost of COBRA health insurance premiums for unemployed workers last year through an up-front tax credit.

700,000 - The number of new homeowners who qualified for the First-Time Homebuyers Tax Credit through the Recovery Act in 2009.

120,000 - The number of times taxpayers have used the WhiteHouse.gov Tax Savings Tool to determine which Recovery Act tax credits they are owed -and how to collect on them.