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Report: Millions of couples, retirees may have to repay some of Obama tax credit

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http://finance.yahoo.com/news/Millions-will-have-to-repay-apf-3724344310.html?x=0&sec=topStories&@#$%&!=6&asset=&ccode=

“WASHINGTON (AP) –More than 15 million taxpayers could unexpectedly owe taxes when they file their federal returns next spring because the government was too generous with their new Making Work Pay tax credit.

Taxpayers are at risk if they have more than one job, are married and both spouses work, or receive Social Security benefits while also earning taxable wages, according to a report Monday by the Treasury Department’s inspector general for tax administration.”




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