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Article: Tax reform is high on the agenda in Washington; Debate expected on Social Security and the tax code.(Tax Planning)
- Article from:
- Investment News
- Article date:
- November 22, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Sara Hansard
WASHINGTON - Expect 2005 to be a big year for tax issues.
President Bush's wielding of his presumed mandate is likely to trigger debates in Washington on issues ranging from Social Security privatization to restructuring the tax code.
But 2004 has been a sleeper year for tax legislation. Only two tax bills of any import made it out of Congress, and their impact has not been terribly sweeping.
The Working Families Relief Act, passed in October, primarily extended tax breaks that had been enacted earlier. Among those "extenders'' are relief from the alternative minimum tax until the end of 2005.
Impact on ...