Taxes/ Insurance - Still a Work in Progress

Lawmakers confront property insurance, again, in 2008 session

TALLAHASSEE, Fla. (AP) – Feb. 21, 2008 – Property insurance wasn’t supposed to be the big issue in the 2008 Legislature. To the chagrin of many lawmakers, it just won’t go away.

Legislators thought they’d largely taken care of the issue last year when they passed a bill they hoped would reduce premiums. Instead, most Floridians still pay expensive rates to protect their homes and businesses, and relief remains elusive. Only 20 percent of Floridians have seen their premiums decrease following the passage of House Bill 1A in a January 2007 special session.

New tax forms give homeowners relief

NEW YORK – Feb. 21, 2008 – It’s shaping up to be a less painful year for many taxpayers who are preparing their 2007 returns.

For one thing, most filers will be getting a special payment from the government, thanks to the economic stimulus package enacted last week. Additionally, some taxpayers who may have been puzzled trying to claim certain deductions a year ago – including one for state and local sales taxes – shouldn’t have any problem this year because those deductions are clearly marked on the 2007 forms. There’s also a new deduction for mortgage insurance.