Seven New Tax Breaks

By Andrea Coombes MarketWatch - Wall Street Journal

In all the hoopla surrounding the current stimulus package, it's easy to forget that other stimulus bill -- the one in 2008 that resulted in a good-sized check for many U.S. taxpayers. Forgetting about that earlier stimulus, and any of the other major tax changes in 2008, could mean missing out on some much-needed cash when you file your tax return this year.

There were six "pretty significant pieces of tax legislation" in 2008, said Mark Luscombe, a principal analyst with CCH Inc., a Riverwoods, Ill., tax publisher, including bills related to housing, farming, the military, pensions, and two on the economy.

Still, while all that tax tinkering affects most of us eventually, many of the changes last year were related to arcane rules -- and won't show up on our Form 1040s.....

Click title for more of the story - Dorethia

Citigroup Get's $50b Bailout, Buys $50m Jet

Bailout bank's new jet angers Levin

BY TODD SPANGLER • FREE PRESS WASHINGTON STAFF • January 27, 2009

WASHINGTON -- When Detroit's auto execs winged it to the capital to ask for government help, they got beat up like a has-been boxer. Is it Citgroup's turn in the ring?

Back in November the question was: How dare the automakers poor-mouth if they could still afford to fly around in private jets? General Motors and Chrysler had to give up their aircraft to get $17.4 billion in loans.

Citigroup, like some other beneficiaries of the $700-billion Wall Street rescue, got to keep its jets. Citi said Monday it was under contract to buy the jet, and was considering selling or leasing the aircraft.

Sen. Carl Levin demanded that incoming Treasury Secretary Tim Geither end "a ridiculous double standard."