Small Business and Work Opportunity Tax Act of 2007
- (June, 2007) Congress passed this Act in order to provide small business tax relief as a counter to the phased-in increase in the federal minimum wage from $5.15 an hour to $7.25 an hour over the next two years.
IRS Audit Risk - (May, 2007) A few years ago, the IRS came under fire
for lowering the number of audits they were performing. Audits of wealthy individuals
down to only half the level of 1992. Total corporate audits were decreasing as well and the
total number of experienced auditors was down significantly from prior years.
Tax Relief and Healthcare Act - (December, 2006) Now that the election cycle is finally over, Congress has acted to extend a significant number of tax breaks that have been held up due to partisan wrangling.
The Act also provides for some tax changes taking effect in 2007.
Increase Prevention and Reconcilation Act
- (June, 2006) What started off as a 2005 tax act being
negotiated in Congress many months ago has finally become law in late
May of 2006.
Energy Act - (August, 2005) During August, the Energy Tax Incentives Act of 2005 was signed into
law. While most of the provisions will affect energy producers and
providers, there are many tax credits and provisions that will have an
impact for both our small business clients as well as individual
Creation Act - (October, 2004) On Friday, October 22, 2004, the
President signed into law the American Jobs Creation Act of 2004 (AJC
Act) which contains $145 billion in business tax breaks.
Act - (May, 2003) On Wednesday, May 28th, 2003,
President Bush signed the Jobs and Growth
Tax Relief Reconciliation Act of 2003 which should bring at least some
tax breaks to almost all of our clients. As everyone
anticipated, the primary beneficiaries of the Act are families with
children, stock investors, high income taxpayers and small
2002 Tax Act - (April, 2002) On March 9th of 2002, the "Job
Creation and Worker Assistance Act" was signed into law by
President Bush. The new law doesn't contain many benefits for
individual taxpayers, but it does include a 13 week extension of
unemployment benefits and some relief measures aimed at businesses.