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The cost of cuts: Arizona tax carve-outs last year hit $13.7B
In fiscal year 2016, state law allowed $13.7 billion in taxes to go uncollected through a litany of exemptions, deductions, allowances, exclusions or credits. And that number is likely to grow by another $1-to-2 billion once individual income tax deductions are tallied.
Tax break available on auto purchases
The "Cash for Clunkers" program for new cars may have ended, but the IRS wants to remind taxpayers about another special federal tax deduction available that can help you save money, in some cases hundreds of dollars, on auto purchases. This tax break will allow people who buy a new vehicle in 2009 to deduct the sales and excise taxes they pay when they file their tax return next year. The tax ded[...]
