Tax Laws

Lots of rumors but little action by congress.  As you may or may not be aware many of the existing tax laws are due to expire as of December 31, 2010.  The last comprehensive tax cut bill was passed when George W. Bush was in office.  When the bill was passed, most of the provisions were set to expire on December 31, 2010 and the tax rates starting in 2011 would return to the rates in effect in 2000.  Across the board the tax rates will increase unless action is taken in the Congress.  More to follow.