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Changing Tax Code

We are in the final days of 2010, just over two months remain. And unless congress does something (someone remind me – what do these guys actually do?) the Bush Tax Cuts are due to expire.

Last week, my article Potential Tax Law Changes was published on the TurboTax Blog.

(The caption for the above image is “this is how much of my tax cut goes to the middle class.”)

A bit of background. What we refer to as the Bush Tax Cuts are really Public Law 107-16, the Economic Growth and Tax Relief Reconciliation Act of 2001, EGTRRA for short. It runs 114 pages, and is as dry a document as you’ll ever read. Besides, it’s expiring in two months and my post at TurboTax will tell you in short order how this might impact you. Take a visit, and let me know what you think. Should congress extend these tax cuts?

Joe

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