Mark Neumann: “Reclaiming my time, that would also apply to things like the college tuition tax cut. I had some experience with this. I…”

“Reclaiming my time, that would also apply to things like the college tuition tax cut. I had some experience with this. I addressed a college with about 800 students and I told them all about this, and some of their parents wanted to try and adjust their withholding; and what happened when they went and tried to adjust their withholding is that the people at this tax office and place of employment said, we never heard of this. I would like to reassure my colleague that this bill has passed, this tax credit is real, and even if his employer or his place of employment or the person that handles withholding has never heard about it, it does not matter, it is still real, it is passed and the ink is dry. There is a new withholding form, a new W-4 form, that is available that does address the $400-per-child portion of it. But even that form does not address the $1500 college tuition tax credit, my colleague mentioned a family from Mississippi miss. If I go back to my family from Wisconsin with two kids at home and one in college that gets to keep $2,300 next year, that is almost $200 a month they get to keep. What they would have to do is go in and literally increase the number of dependents that they are claiming on their tax form until they get to a point where literally their take-home pay returns by 200.”