Articles

P & T Hot Tip Emailees:

The Pomeroy Bill (HR-4154) that permanently extends the 2009 rates and exemptions, and does away with carry-over basis, passed the House today 225-200.

That would leave everything just as it is today--45% top rate 3.5 Million applicable credit amount etc. We shall see. Neither side will particularly like this, which may make it a good compromise of the issue. It will matter a lot in 28 days!

Please read the important information relating to tax advice at the bottom of this web page.

Best regards,
Bob Wolf, Moderator

“Any tax advice in the foregoing message was not intended or written to be used, and cannot be used by any person for the purpose of avoiding tax penalties that may be imposed with respect to the matters addressed. Some of that advice may have been written to support the promotion or marketing of the transactions or matters addressed within the meaning of IRS Circular 230, in which case, be advised that the advice was written to support the promotion or marketing of the transaction(s) or matter(s) addressed, and you should seek advice based on your particular circumstances from an independent tax advisor.”