Obama tax mix up surprises 13 million Americans

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Obama tax mix up surprises 13 million Americans

The Washington Examiner A new government audit says 13.4 million taxpayers may be getting unexpected tax bills because they were awarded too much money under President Barack Obama's Making Work Pay tax credit. The tax credit, which expires Jan. 1, was designed to increase take-home pay by about $8 a week through new tax withholding tables. The credit was capped at $400 for individuals and $800 for married couples filing jointly. However, the audit said people with multiple jobs, married couples who both work, and Social Security recipients who also work risk not having enough taxes withheld from their paychecks, resulting in a tax bill when they file their returns.

12/16/10 1:30 PM