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TAX BILL AGREEMENT 'IMMINENT'
April 27, 2006
Tax Notes reports that we may have an agreement on the tax reconciliation bill that has been stalled in conference since December. The article cites House Ways and Means Chairman Thomas as saying the bill is likely to include a two-year extension (to 2010) of the 15% rate for dividends and capital gains, a two year extension (to ) of the $100,000+ Section 179 deduction, and a one-year partial AMT fix, perhaps combined with an indexed larger exemption. This is less generous, but more permanent, than the fix that had been in the Senate bill, and would swell the ranks of AMT taxpayers in 2006.
Link: permanent subscriber-only link to Tax Analysts story.
Center for Tax Studies coverage
Prior Coverage:
BILL THOMAS: DIABOLICAL GENIUS?
SENATE PASSES TAX BILL IN WEE HOURS
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