Commerce Clearing House published a summary of the federal tax provisions to be extended under the Tax Extenders Act of 2009. CCH says
The House of Representatives approved a package of tax extenders on December 9, 2009, largely along party lines by a vote of 241 to 181. The $31 billion Tax Extenders Act of 2009 (H.R. 4213) extends more than 50 popular but temporary tax incentives through December 31, 2010. Most of the incentives would have expired after December 31, 2009. Two revenue raisers – a change in the taxation of carried interest and heightened information reporting and disclosure requirements for foreign bank and fi nancial accounts – would pay for the one-year extensions. President Obama has indicated he will sign the extenders bill as passed by the House, but the bill’s fate is uncertain in a Senate focused almost exclusively on heath care reform.
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