CCH Publishes Valuable Summary of the 2010 Tax Relief/Job Creation Act

CCH recently published a Tax Briefing Special Report entitled 2010 Tax Relief/Job Creation Act. This 11-page report provides an excellent summary of the new tax bill. The introduction is below:

President Obama signed a multi-billion dollar tax cut package, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (2010 Tax Relief Act) (P.L. 111-312), on December 17. Th e new law follows through on the framework agreed to December 6 by President Obama and GOP leaders in Congress. Th e 2010 Tax Relief Act extends the Bush-era individual and capital gains/dividend tax cuts for all taxpayers for two years. Th e bill also provides for an AMT “patch,” a one-year payroll tax cut, 100 percent bonus depreciation through 2011 and 50 percent bonus depreciation for 2012, a top federal estate tax rate of 35 percent with a $5 million exclusion, and more.

CCH, 2010 Tax Relief/Job Creation Act, Dec. 21, 2010. See also Neil E. Hendershot, Update: 2010-12-20, PA Elder, Estate & Fiduciary Law Blog, Dec. 20, 2010.  

Special thanks to Neil E. Hendershot (Attorney, Harrisburg, PA and author of the PA Elder, Estate & Fiduciary Law Blog) for bringing this to my attention.