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It has been said we can get a cash rebate since Congress

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passed a 42.4 billion Consumer...
It has been said we can get a cash rebate since Congress passed a 42.4 billion Consumer Rebate Program, and this needs to be completed by December.
Submitted: 1 year ago.Category: Tax
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10/23/2016
Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,227
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago

I do not know why they keep passing this information around except to get people to sign up for some subscription to a news letter that would probably not have good information either.

The referenced "cash rebate" program is actually a decade-old tax deduction provision that applied to a small minority of taxpayers and could not fairly be described as a program to provide consumers with "cash rebates on nearly every purchase".

In general, the U.S. income tax code has long allowed taxpayers who itemize their federal income tax returns to deduct any state and local income taxes they pay during the year.

Some state and local governments don't place income taxes on residents and instead fund their operations in other ways (such as higher sales or property taxes), so those who live in such states were disadvantaged by not having a federal tax deduction to offset what they paid to keep their local government services running.

Now you can claim sales tax or income tax paid to states.

It is no big secrete and it is not new. It is on your Schedule A if you itemize.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago

Please let me know if you need clarification. If you do not then a positive 5 star rating is appreciated so I get credit for the response. (look for the STARS or SMILEY FACES)

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