Explanation of new tax law available via CCH IntelliConnect

You’ve probably heard by now that Congress finally managed to avoid the so-called “fiscal cliff” by passing new tax legislation. The main features of the American Taxpayer Relief Act of 2012 are that it allows the Bush-era tax rates to sunset after 2012 for individuals with income over $400,000 and families with incomes over $450,000; permanently “patches” the alternative minimum tax (AMT); revives many now-expired tax extenders; and provides for a maximum estate tax of 40 percent with a $5 million exclusion. In total, the Act makes over 100 changes to the Internal Revenue Code. If you are interested in learning more about the specific implications for tax law (and who doesn’t find tax law fascinating?), then take a look at American Taxpayer Relief Act of 2012: Law, Explanation & Analysis, a new publication available via CCH IntelliConnect. Since 1913, CCH has been a leading source of comprehensive, ongoing practical and timely analysis of the federal tax law.

 

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