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Bush Tax Cut Extension Benefits and Baggage

In passing the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Relief Act), Congress has ended chronic anxiety over relief desired to mitigate unemployment woes and stimulate the economy. Now that President Obama has signed the bill into law, the 2010 Tax...

Just in Time for the Holidays: A Temporary Tax Compromise

Early Friday morning, December 17, 2010, the U.S. House of Representatives took the final step required to seal the fate of The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, H.R. 4853 (see 2010 Bill Tracking H.R. 4853 ). An $801 billion package of tax cuts and $57...

Estate Tax Reinstated

Over the last few weeks we all have been diligently watching and waiting to see what would become of the Bush tax cuts and while most would agree that a continuation of at least some of the tax cuts were necessary to keep the economy moving forward, it was the estate tax that was the sticky spot. Republicans...

Thorns in Making Work Pay Credit for Some Taxpayers, Says TIGTA

The Making Work Pay Credit, an economic stimulus provision included in the American Recovery and Reinvestment Act of 2009, was intended to provide an increase to employees' take home pay by reducing the amounts withheld from employees' paychecks throughout the year. The credit, which was designed...

2011 Energy Credits at Hand, Albeit Attenuated

In recent years, tax policy has been coupled with environmental policy. In an effort to promote the more effective use of resources, certain credit provisions are enhanced to encourage taxpayers to engage in energy improvement projects. Although the energy efficiency home improvement credits were extended...

Taking Advantage of the Tax Relief Act of 2010

On December 17, 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 ("2010 Tax Act") became effective. Pub. L. No. 111-312. This new legislation provides planning opportunities for estates of decedent's dying in 2010 and for individuals and estates...

Portability of Unused Estate and Gift Tax Exemption Between Spouses

Editor's Note : The following is an excerpt from 2-38 Trust Administration and Taxation § 38.00[4A] (Matthew Bender) ... The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act (the "2010 Act") enacted a "portability" feature; it lets a surviving...