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Tax Legislation

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Changing tax laws have a direct impact on your business and personal success. The resources on this page support our ongoing effort to keep you informed of important tax news, so you can develop more effective tax strategies. Visit regularly for updates on the latest legislative action, along with analysis and insight on what it means to you.

CONTRACTOR WITHHOLDING AND VETERAN HIRING INCENTIVES

RUMORED CHANGE IN GIFT TAX EXEMPTION

  • Rumors abound that the Joint Select Committee on Deficit Reduction in Washington is considering proposals to reduce the federal gift tax exemption from $5 million to $1 million, effective as early as Nov. 23, 2011.

BUDGET CONTROL ACT OF 2011

  • As Debt Crisis Ends, Tax Reform Talks Begin
    Approved by Congress and signed by the president on Aug. 2, the Budget Control Act of 2011 addresses the national debt but leaves tax reform on the table. Here is a look at some of the tax proposals that may come up in the months ahead.

COMPREHENSIVE 1099 TAXPAYER PROTECTION AND REPAYMENT OF EXCHANGE SUBSIDY OVERPAYMENTS ACT OF 2011

  • Form 1099 Reporting Requirements Repealed
    Expansions of Form 1099 information reporting for businesses and landlords has been repealed The expanded reporting was scheduled to take effect for payments made after Dec. 31, 2011 (businesses), and after Dec. 31, 2010 (landlords). To offset the cost of the repeal, the law increases the amount of the new health care premium assistance that is subject to recapture.

TAX RELIEF AND JOB CREATION ACT OF 2010

  • Tax Relief Act of 2010 Has Something for Everyone
    The impact of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (H.R. 4853) has been widespread and immediate. The extension of Bush-era tax cuts for two years is just the beginning. Nearly every taxpayer in America – individual and business – will be affected by some part of the $800 billion-plus package.  

SMALL BUSINESS JOBS ACT

  • New tax breaks designed to boost business investment and spending
    Signed into law on Sept. 27, the Small Business Jobs Act (H.R. 5297) is meant to stimulate business investment and spending. It includes a package of extended and expanded business incentives, benefits to promote retirement savings and revenue raisers to cover the $12 billion price tag.

HOMEBUYER TAX CREDIT

HIRE ACT / JOBS CREATION

HEALTH CARE REFORM

AMERICAN RECOVERY AND REINVESTMENT ACT

TAX INSIGHT

  • Sign up for Tax Insight
    Get the latest on tax issues directly in your inbox. Keep current on new and proposed legislation such as the anticipated extended tax breaks for American Jobs and Closing Tax Loopholes Act, insight related to IRS focus and audit hot topics and recent federal case law changes and they way they impact you.

TAX LEGISLATION ARCHIVE

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