Schumer Says Web Site Has Tax Tips
By Mark Scott
Washington, DC – The deadline for filing 2003 income tax returns is this Thursday. US Senator Charles Schumer says there were still 3.4 million New Yorkers who hadn't filed as of last week.
Senator Schumer said there are still some 278,000 outstanding returns in Western New York. He says many delay their returns because they're too busy or don't know how to complete the return accurately and quickly. Schumer also says he's found that many taxpayers are failing to take advantage of tax credits and deductions they're entitled to.
"If your income is $130,000 or lower, you can deduct $3,000 in tuition costs on your 2003 returns. This year, the deduction increases to $4,000," Schumer said. "That's a big savings for New York middle class families."
Schumer also urges taxpayers to think twice about paying any outstanding taxes on credit cards. He said the IRS charges a convenience fee of 2.5 percent on the amount owed. Schumer said he's offering more tax tips at his web site.