dividends - The S Corporation Association

President Signs Tax Bill

Before a South Lawn crowd today, President Bush signed into law H.R. 4297, the “Tax Increase Prevention and Reconciliation Act of 2005″. Cumbersome name aside, the bill is a relatively streamlined effort to extend several expiring tax provisions, including the lower tax rates on capital gains and dividends, and middle-class protection from the Alternative Minimum Tax.

S-CORP’s focus now turns to the second tax bill, known in tax circles as the “trailer package”, and the open question of which of the provisions excluded from the first bill will make it into the second (“trailer trash”). S-CORP continues to work with friends …

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admin2019-02-06T18:47:19+00:00May 17, 2006|

House Approves $70 Billion Tax Cut Bill

Yesterday, by a vote of 244-185, the House approved the long-delayed tax reconciliation bill (H.R. 4297) following an agreement between House Ways and Means Committee Chairman Bill Thomas (R-CA) and Senate Finance Committee Chairman Chuck Grassley (R-IA) that a follow-up tax extenders bill may be attached to pension reform legislation.

The reconciliation tax bill includes a two-year extension of the reduced tax rate on capital gains and dividends, a one-year extension of alternative minimum tax relief for middle-income tax payer, a two-year extension of increased small-business expensing under section 179, and extension of the subpart F exemption for active financing income.

Fourteen …

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admin2019-02-06T18:47:20+00:00May 11, 2006|

S CORP ALLIANCE LETTER: 36 SIGNORS AND COUNTING!

Good news! We’re up to 36 groups on the S Corp Alliance letter (see attached). Thanks to all who signed on in the last week: American Council of Engineering Companies, Associated Builders and Contractors, Associated Industries of Massachusetts, Delaware State Chamber of Commerce, Independent Community Bankers of America, Indiana Manufacturers Association, Louisiana Association of Business and Industry, Michigan Manufacturers Association, Mississippi Manufacturers Association, Nebraska Chamber of Commerce & Industry, Non-ferrous Founders’ Society, Oklahoma State Chamber of Commerce, Utah Manufacturers Association, and Wisconsin Manufacturers & Commerce.

Please remember we’re keeping the letter open, so if you know of any organization that would …

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admin2019-02-06T18:48:18+00:00July 1, 2005|