Back to top

Blog

Click here to go back

Tax provisions expiring December 31, 2010

Posted by Admin Posted on Nov 09 2010

For a list of the tax provisions expiring on December 31, 2010, go to my monthly newsletter at http://www.rgpcpa.com/page.jsp?content=Monthly-Newsletter&decider=rgprice

Some TV shows have picked up on the December 31, 2010 date to opine that Congress will have to act on extenders by that date.  Why is this important?  Until then, Democrats still have majority in the House and 60 seats in the Senate, so Democrats control whatever is going to happen.

Reality is a bit difference.  There is nothing to stop the 111th Congress from passing a retroactive extender bill in January.  It's already too late to print forms and instructions in time for the annual mailing to taxpayers. 

And the Democratic supermajority in the Senate was always a media invention (See Ben Nelson, D-NE).


The Democrats want to pass an extender while they are still in charge.  It's just not as easy as people think.


Add New Comment