R. 4154: 225 yeas, 200 nays, and 9 not voting, Future of the Federal Estate Tax, Dec. 3, 2009.
With the Bush-era tax cuts due to expire Dec. 31, the president forced Republicans to accept a hefty tax hike on the top 2% of wage earners.
To them, that will feel like a tax increase, whether or not you feel a tax provision should expire after Dec. 31.
Obama is essentially daring his adversaries to oppose a provision that would extend and deepen payroll tax cuts due to expire Dec. 31.
FORBES: For Social Security's Sake, Payroll Tax Will Be Raised Again
The May package also failed to extend 20 tax breaks that expired last Dec. 31, including the research credit (a top priority for tech companies) and deductions for state sales taxes and college tuition.
But as my colleague Ashlea Ebeling explains in a story here in Forbes about smart tax moves for the next two years, an immediate SUV write off is allowed again under a different, even more generous provision of the tax code, good through Dec. 31, 2011.
FORBES: How To Take A 100% Tax Write-Off For A New Porsche, BMW or Cadillac
That is what happened with the tax act that Congress passed on Dec. 17, 2010.
FORBES: Two Ways Congress Should Spur Charitable Giving For Sandy Relief
In December 2006, the solar industry got its 2006-2007 30% homeowner tax credit for installations of solar energy systems extended through Dec. 31, 2008.
The financial markets have been consumed as of late with the ominous threat of Dec 31, 2012, the date when Tax cuts expire and spending cuts kick in, the dreaded fiscal cliff.
FORBES: Make Believe: What if there is a resolution to the fiscal cliff?
Another reason some folks might be holding off on taking distributions is because they are waiting is to see if Congress will reinstate the IRA-Charitable Rollover law, which expired on Dec. 31, 2011 like many other tax extender provisions.
FORBES: IRA Owners Dawdling Over Required Minimum Distributions
After two years of repeated denials, Gingrich agreed on Dec. 21 that he should have consulted a tax attorney before using charitable donations to finance his college course.
Indian tribes, like states, don't pay corporate taxes on the businesses they own, and the use of tribes in aggressive corporate tax shelters has been whispered about for years ( FORBES, Dec. 14, 1998).
Sponsored by Representatives Steve Largent (ROklahoma) and Bill Paxon (RNew York), the Tax Code Termination Act will scrap the entire federal income tax code (except for Medicare and Social Security) on Dec. 31, 2002.
Case in point: the Production Tax Credit for wind energy, which is set to expire on Dec. 31 unless it is renewed for another two-year run.
FORBES: How To Tap A Trillion Dollars For Renewable Energy Investment
The inspector general's report said that as of Dec. 17, it had reviewed 296 applications from groups seeking tax-exempt status that had been set aside for scrutiny by a team of specialists.
The survey was conducted from Dec. 3-8, so not all of the forecasts take the tentative tax deal into account.
It allowed these and other tax breaks to expire and then revived them for 2006 in legislation signed by President Bush on Dec. 20--after the IRS had sent the forms to the printers.
Shenkman, Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, LawEasy.com, Dec. 11, 2010.
But if he sells half his stake on Dec. 31 and the other half on Jan. 1, there's no tax.
The payroll tax relief applies only for wages paid to qualified individuals from Mar. 19, 2010 and ending Dec. 31, 2010.
The donors proposed the gift of private stock on Dec. 29 and wanted to complete it by year-end (to take the tax deduction for the charitable gift in 1999), but the charity's approval process for stock gifts couldn't work that fast.
The folks who waited until this year to take their first RMDs will have to take two RMDs in this calendar year (one by April 1 to count for the 2010 distribution, and the other by Dec. 31 to count for 2011), possibly putting them in a higher marginal tax bracket.
The 50% bonus depreciation provision was put in the tax code as a business gimme in the 2007 stimulus package, effective Jan. 1, 2008 through Dec. 31, 2012 (a repeat of a temporary break Congress used back in 2002).
FORBES: BigTax Break For Business Owners Buying Equipment, SUVs Expires Dec. 31.
Actor Wesley Snipes is asking the federal judge who ordered him to report to prison by Dec. 9th, to let him put off the start of his three year sentence on tax charges until Jan. 6th.
FORBES: Wesley Snipes Asks To Delay Jail For Holidays With Kids
Redeem on Dec. 9 and you have effectively converted a chunk of interest income into a (for you, tax-free) capital gain.
For the period ended Dec. 30, Wendy's Co. said its net income rose sharply because of a larger tax benefit and lower interest expense.
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