Senator Urges New York Taxpayers To Take Advantage Of Tax Credits

By: Brian Golden

WASHINGTON, D.C. – Approximately 210,000 Southern Tier residents are eligible for the Making Work Pay Tax Credit, as part of the American Recovery and Reinvestments Act (ARRA), which cut taxes for nearly 93 percent of New Yorkers, according to U.S. Senator Kirsten Gillibrand.

“New Yorkers pay some of the highest taxes in the nation,” said Gillibrand during a recent conference call. “After nearly a decade of tax giveaways to big corporations and the wealthiest Americans at the expense of small businesses and everyday New Yorkers, middle class families deserve a break of our own.”

According to Gillibrand, the $400 Making Work Pay Tax Credit was automatically included for the majority of workers targeted, ensuring that the tax cut was received immediately, but added that those who did not benefit from a deduction in their withholding, or have lost their job prior to receiving the full value of the credit, should be sure to claim it on their returns.

Other ARRA legislation aimed at easing the tax burden on middle class families in New York included the First Time Homebuyer Tax Credit, which has been extended into 2010, and expanded to include more buyers.

“New Yorkers who bought a home and have not lived in a residence they owned for the past three years are eligible for this $8,000 credit, which will also be available this year through the end of April,” stated Gillibrand, who added that “existing homeowners are now eligible for a tax credit of $6,500.”

Gillibrand reported that residents who purchased a new car in 2009, including through the Cash for Clunkers program, are capable of deducting the local, and state, sales tax on said purchases, depending on their income. Individuals must collect less than $135,000, while families must bring in less than $260,000.

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