Second Quarter 2009 Brings Many Important Tax Developments

  • August 4, 2009

The second quarter of 2009 saw significant federal tax developments from the White House, Congress and the IRS. Many of the developments relate to temporary tax breaks in the American Recovery and Reinvestment Act of 2009 (2009 Recovery Act), which Congress passed in February to help stimulate the U.S. economy. Additionally, important guidance for individuals, businesses and pension plans also came from the IRS. This article describes some of federal tax developments that occurred during the second quarter of 2009.

IRS Issues New Rules For 403(b) Retirement Plans

  • July 1, 2009

written by Joe Page Changes Are Substantial While the Internal Revenue Service and Department of Labor have collectively spent a considerable...

How Will Obama’s Tax Proposals Affect You?

  • May 29, 2009

CCH recently published their Tax Briefing on the Obama Administrations "Green Book" of tax proposals. The Obama administration released much-anticipated details about its proposed tax cuts and revenue raisers on May 11. The Treasury Department’s General Explanations of the Administration’s Fiscal Year 2010 Revenue Proposals (also known as the “Green Book”) describes the administration’s tax agenda.

Energy credits can mean big tax savings, IRS reminds taxpayers

  • May 1, 2009

Taxpayers seeking to reduce their energy bills should not overlook valuable savings from energy tax credits. The IRS recently reminded both individuals and businesses that they can benefit from enhanced and extended energy-saving tax credits in the American Recovery and Reinvestment Tax Act of 2009 (2009 Recovery Act).

President’s Tax Proposals Stir Controversy

  • April 1, 2009

Several tax provisions in President Obama's proposed federal budget for fiscal year (FY) 2010 have garnered significant criticism on Capitol Hill since the Obama administration released the budget. Obama's proposed budget would cost $3.5 trillion, make major long-term changes to individual and business tax, and includes proposals to limit tax deductions for mortgage interest and charitable contributions for higher-income taxpayers, in addition to long-term plans that raise tax rates from their current level for higher-income individuals

American Recovery and Reinvestment Tax Act of 2009

  • February 21, 2009

The much-anticipated economic stimulus package, the American Recovery and Reinvestment Act of 2009 (ARRTA), is now law. President Obama signed this historic measure on February 17. Moving through Congress in less than four weeks, the new law won House approval on February 13 by a 246-183 margin, followed by same-day Senate passage 60-38.

American Recovery and Reinvestment Tax Act of 2009

  • February 18, 2009

Special Report Senate Passes Tax Stimulus Bill; White House Expects Final Bill By February 16

American Recovery and Reinvestment Tax Act of 2009

  • February 6, 2009

House Passes $275 Billion Tax Stimulus Bill; Senate Vote Nears

Congress Passes Emergency Pension Tax Relief/Technical Corrections

  • December 19, 2008

The continuing drumbeat of bad economic news has spurred the lame-duck Congress to pass an emergency package of pension recovery provisions and pension-related technical corrections.