Since my first days in Congress, I have been fighting to make our tax laws fairer for all Nevadans. I have led the fight to provide tax relief for working families, reinstate the state sales tax deduction, and reform the IRS. In today's difficult economic climate, I understand how important it is to ensure tax relief is focused on providing help to hard-working families, and to encouraging investment and job creation.
Tax Relief for Working Families
This bill is not perfect, but it provides the economic boost middle-class families and small businesses in Nevada and across America need. Absent this agreement, all Americans would have had their taxes increase. The benefits for working families in this legislation include lower tax rates on the income they earn, extension of the $1,000 child tax credit, marriage penalty relief, and tax credits for college expenses. Just as important, the legislation reauthorizes extended unemployment benefits for 13 months and contains job-creating tax incentives including a payroll tax cut for individuals and incentives to create clean energy jobs, energy efficient homes, and investments in renewable energy.
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 contains a number of provisions that benefit Nevada’s middle class families:
Tax Relief for Small Businesses
Back in 2009, I insisted that the American Recovery and Reinvestment Act (Recovery Act) contained a number of provisions to ease the tax burden on small businesses, expand the net operating loss carryback, and eliminate the tax penalty when businesses restructure their debt. And as part of the Affordable Care Act, small businesses are eligible for tax credits equal to as much as 50% of the cost of the health care they provide to their employees.
Helping Families Realize and Retain the Dream of Homeownership
For more information on my fight to stop foreclosures and keep Nevadans in their homes, please click here.
Protecting the State Sales Tax Deduction
Reforming the IRS
I was a strong champion of the original Taxpayers' Bill of Rights, a law that guarantees a taxpayer’s right to have an attorney represent his or her before the IRS, prohibits the IRS from using quotas for audits or property seizures, and allows taxpayers to recover financial damages caused by the IRS. Most important, the law requires the IRS to explain to taxpayers, in plain English, these and all the other rights to which they are entitled.
While the original Taxpayers Bill of Rights sent a strong message to many IRS officials, further reform was necessary. As such, I supported the Taxpayers' Bill of Rights II, which created the Office of Taxpayer Advocate to assist taxpayers in resolving problems with the IRS. Later, I joined Senators Bob Kerrey (D-NE) and Charles Grassley (R-IA) to pass the IRS Restructuring and Reform Act. This comprehensive law revamped the management and oversight of the IRS to improve its operations and make the agency more accountable to American taxpayers.
Additionally, you may want to consider contacting the Taxpayer Advocate Service. This agency operates independently within the IRS and offers free, independent, and confidential tax assistance to taxpayers unable to resolve their tax problems through normal channels or individuals experiencing a hardship. The service helps individual and business taxpayers resolve problems with the IRS. Visit their website for more information or call (702) 868-5179.
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