Ways and Means Chair Charles Rangel (D-N.Y.) apparently wants to get out of D.C. in time to do some holiday shopping in New York. He's introduced a bill to extend 49 tax provisions that expire on Dec. 31, and word is the House will vote on the measure today, Wednesday, [...]
The TaxProf reports that the House will vote today on extending for one year 45 expiring tax provisions, including the all-important seven-year depreciation for qualified motor sports facilities. They will "pay" for this temporary extension of these provisions with a permanent increase in tax on hedge funds and [...]
Last Friday, President Obama yesterday signed the Worker, Homeownership, and Business Act of 2009 (H.R. 3548) into law. According to the Tax Professor, this new law has seven major tax provisions, in addition to extending the homebuyers credit. All of the tax changes are listed below.
1. Extension [...]