1340 AM, Saturday, November 7th, 2009
Income Tax Credit May Become Permanent
Last updated on Friday, July 03, 2009
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(UNDATED) - A credit on your federal income tax for the property taxes you pay could become permanent.
Property taxes have long been deductible if you itemize.
Amid outrage over Indiana property tax spikes, Indiana Senator Evan Bayh sponsored a one-year change in the law to allow the credit for all taxpayers.
Now Bayh wants congress to make the credit permanent and lift the 500 dollar cap for those who don't itemize their deductions.
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