First, don't forget the tax filing deadline this year is April 18, not April 15.
Second, when you are filing your taxes this year, you will benefit from $160 billion of tax relief for middle-class families that President Obama secured this past December -- in addition to extending unemployment insurance, the 2001 and 2003 middle-class tax cuts and other key provisions. If you are one of the nearly 160 million Americans benefitting from the payroll tax cut, which was in the same package of middle-class tax relief, you are already seeing the additional savings in your paycheck.
We have put together a new tax cut calculator on WhiteHouse.gov that will show you exactly what these tax cuts mean for you and your family. We've also included a link to Recovery Act tax cuts you may be eligible to claim on your 2010 taxes as you file this month. Just answer a few simple questions and our tax cut calculator will demonstrate how President Obama's tax cuts will benefit you, personally, in 2011.
Take a look:
Here are some highlights from the tax cuts and extensions that President Obama got you last year:
Tax season is never pleasant, but hopefully these cuts will lighten the load for you.
Sincerely,
Austan Goolsbee
Chairman of the Council of Economic Advisers