From Lenny's Desk
The Sturbridge Taxman's Blog

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Cormier & Rea announce additional office at 483 Summer St, Ste 2000, Arlington, MA

Tax Extenders and Much More Signed into Law

Categories Tax Tips (Fed)

Just before Christmas, President Bush signed the Tax Relief and Health Care Act of 2006, which retroactively restores some popular expired tax cuts to the beginning of 2006. These include the deduction for state and local sales taxes, the higher education tuition deduction, the teacher’s classroom expense deduction and the research tax credit. The new law also enhances some important incentives, bolsters Health Savings Accounts, extends some expiring energy credits and includes miscellaneous tax relief, including a refundable credit worth up to 20 percent to certain taxpayers with long-term unused AMT credits who have AMT income from incentive stock options

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