Update on US tax

Update on US Tax

On December 16, 2010, Congress passed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. This legislation, negotiated by the White House and select members of the House and Senate, provides for a short-term extension of tax cuts made in 2001.  It also addresses the Alternative Minimum Tax (AMT) and Estate, Gift and Generation-skipping Transfer taxes.

In Summary:

-  Two-year extension of all current tax rates through 2012

- Temporary modification of Estate, Gift and Generation-Skipping Transfer Tax for 2010, 2011, 2012

- AMT Patch for 2010 and 2011

- Extension of “tax extenders” for 2010 and 2011

- Temporary Employee Payroll Tax Cut

 Get more information in the following newsletter!

Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010

This newsletter was first published in February of 2011

http://bourbon-fm.com/file/BFM_Newsletter_02_2011_TaxUpdate.pdf