MILLENNIUM BABIES TAXING ON TAX RETURNS

MILLENNIUM BABIES TAXING ON TAX RETURNS

KANSAS CITY, Mo. (Wireless Flash) -- Folks who are expecting a baby on January 1 are in for a taxing experience -- literally. According to H&R Block tax expert Kathy Burlison, parents of babies born by December 31, will get a tax break from the government in the form of a $2,750 tax exemption and a $500 tax credit. By comparison, parents of babies born on or after January 1 will have to wait until next year to get their first child tax deduction. But no matter how a big a tax break, it's not worth trying to hurry up Mother Nature just to meet a deadline. L.A.-based baby doctor Jaroslav Marik warns that trying to induce labor just to save a few bucks on a tax return is dangerous and stupid.