2010 Tax Act

The newly passed and signed 2010 Tax Act includes several provisions that will affect taxpayers. 

The new law:

  • Reduces the estate tax
  • Postpones the sunset of the 2001 and 2003 tax cuts
  • Includes an alternative minimum tax (AMT) patch
  • Extends unemployment benefits
  • Extends for two years the repeal of the itemized deduction phase-out and the personal exemption phase-out
  • Continues through 2010 the lower capital gains tax rate introduced by the Jobs and Growth Tax Relief Reconciliation Act of 2003

Provisions will affect estate tax, payroll tax, as well as family and business tax situations.  Please call our office today to find out what the 2010 Tax Act means for you. 
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