October 13, 2008:
Columbus Day -
Government Offices Closed.
November 11, 2008:
Veterans Day -
Government Offices Closed.
November 27, 2008:
Thanksgiving Day -
Offices Closed.
November 28, 2008:
Day After Thanksgiving -
Offices Closed.
December 25, 2008:
Christmas Day -
Offices Closed.
December 31, 2008:
Deduction deadline -
The last date to make payments that can be deducted from your 2008 return.
January 1, 2009:
New Year's Day -
Offices Closed.
May 11, 2006:
Congress Reaches an Agreement on Tax Increase Prevention and Reconciliation Act of 2005
Congress Reaches an Agreement on Tax Increase Prevention and Reconciliation Act of 2005
May 11, 2006
After months of negotiations, House and Senate conferees have reached an agreement on H.R. 4297, the “Tax Increase Prevention and Reconciliation Act of 2005” or TIPRA (the legislation keeps its 2005 date because it was originated in Congress last year). The legislation passed the House of Representatives on May 10 and is expected be taken up by the Senate on May 11.
The centerpiece of the TIPRA is AMT relief for individuals for 2006, two more years of low-tax treatment for capital gains and qualified dividends, two more years of favorable Internal Revenue Code Sec. 179 expensing provisions for businesses, and a two-year extension of the subpart F active financing exception.
To offset the substantial revenue loss from these provisions, the conferees crafted a number of creative provisions for raising revenue to ensure that TIPRA met the $70 billion tax reconciliation target. For example, they tinkered with corporate estimated tax payments, removed the Adjusted Gross Income ceiling for IRA-to-Roth-IRA conversions but only after 2009, and boosted the age at which the kiddie tax applies from under age 14 to under age 18.
