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Tax Tips - Summary of the American Recovery and Reinvestment Tax Act of 2009 - TaxTips.pdf (pdf)
Tuesday, March 24, 2009
Category:  < Taxation

The President and Congress have responded to the current economic crisis by drafting legislation that provides, among other changes to the law, significant changes to the Internal Revenue Code. The portion of the legislation making changes to the Code is titled the “American Recovery and Reinvestment Tax Act of 2009” (the “Act”). The Act’s changes to the Code affect a broad range of taxpayers, from businesses to individuals. The following summary is focused on the more relevant provisions for your business clients. -Extension for Bonus Depreciation -Small Business Expensing -Expanded NOL Carryback -New Employee Tax Credit -COD Relief for Debt Reacquisition -Increase in Gain Exclusion for Qualified Small Business Stock Sale.

View TaxTips.pdf (pdf)

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