Though there has been considerable discussion, 2011 has thus far had no significant change in tax legislation. However, the The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of December 2010 reinstated many tax provisions that were scheduled to expire at the end of 2010 and set forth some new tax provisions for 2011. Most of the extensions and new provisions will be in effect until the end of 2012. Over half of all US households are expected to have lower tax bills in 2011 as a result of this legislation.

Below are links to the most recent significant tax law provisions. It is important to be aware of current tax laws and any upcoming changes in order to be prepared to take advantage of how these laws may affect you. If you wish to receive more information or would like to discuss the specifics of your situation, please call our office and we will be happy to talk with you.

Individuals
Small Business
(including a discussion of Compensation for S corporation shareholders)
Looking Forward
Articles of Interest
Tax Changes at a Glance