Wednesday, January 28, 2009


Good news!

The CCH daily tax headline email newsletter reports this morning that -

The Senate Finance Committee on January 27 approved its portion of an $825 billion economic stimulus bill, the American Recovery and Reinvestment Bill of 2009, and potentially boosted the total cost to nearly $900 billion after agreeing to include a one-year patch for the {dreaded} alternative minimum tax (AMT).”

You can click here to check out a detailed press release on the provisions of the bill.
However, according to White House Press Secretary Robert Gibbs, “Obama supports the AMT patch, but believes it should be taken up separately from the economic recovery package, since it is directed at upper-middle-income taxpayers”.

Unfortunately my “tax-season hiatus” begins on Monday and I will not be able to report on the progress of the stimulus package. I will be posting once about every 20 days so I remain on the tax page – so I may use these posts to bring you updates.

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