Social Security Report

Obama renews tax provisions, creates tax-free savings accounts for people with disabilities

President Barack Obama signed legislation Friday that temporarily extends dozens of costly tax breaks for millions of businesses and homeowners, commuters, teachers and others. The measure also allows people with disabilities to open tax-free savings accounts. The law extends the tax breaks through Dec. 31, allowing taxpayers to claim them on their 2014 income tax returns. But the fate of the tax provisions beyond this year will again be uncertain. Congress routinely extends the package of tax breaks every year or two, but they were allowed to expire in January….Read More

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