States facing money trouble too, services likely will be cut

Forty-three states already face shortfalls

for their budgets this year and/or next year. The Center on Budget and Policy Priorities projected that nearly all states will face shortfalls by 2010. It expects the deficit shortfall to total over $100 billion by 2010.

So what does all this mean for you? Certainly not lower taxes, but you could end up losing services. Here's some of the cuts predicted (or already happening):

* Health care: 17 states have already made cuts or are considering cuts to programs for low-income children and family health programs.

* Education: 16 states are thinking about cutting K-12 and early education spending. 21 states have implemented or proposed cuts to public colleges and universities.

* 20 states have implemented or proposed cuts to the state workforce -- in other words more layoffs



Your resource on tax filing
Tax season is here! Check out the Tax Center on AOL Finance for all the tips and tools you need to maximize your return.
The 10 Most Overlooked Tax Deductions
Don't overpay taxes by overlooking these tax deductions. See the 10 most common deductions taxpayers miss on their tax returns so you can keep more money in your pocket.
Read MoreBrought to you byTurboTax.com
States with the Lowest Taxes and the Highest Taxes
Where you live can help or hinder your ability to make ends meet. A myriad of taxes—property, license, state and local sales, property, inheritance, estate and excise taxes on gasoline—eat away at your disposable income. Weighing the tax landscape against your financial picture lets you stretch your dollars. Here's a roundup of the highest and lowest taxes by state.
Read MoreBrought to you byTurboTax.com
What to Do After You've Filed an Income Tax Extension
No matter how or when you file your taxes, here's a guide to next steps.
Read MoreBrought to you byTurboTax.com
Child Tax Credit Calculator and Top 7 Requirements
The Child Tax Credit can significantly reduce your tax bill if you meet all seven requirements: 1. age, 2. relationship, 3. support, 4. dependent status, 5. citizenship, 6. length of residency and 7. family income. You and/or your child must pass all seven to claim this tax credit.
Read MoreBrought to you byTurboTax.com