Retroactive Provisions of the Tax Relief & Health Care Act of 2006

摘要

The Tax Relief and Health Care Act of 2006 (P.L. 109-432), or TR & HCA, was signed by President Bush on December 20, 2006. In some cases, the tax legislation breathes new life into expired provisions by extending them retroactively for expenses paid or incurred in 2006. Although this retroactive legislation is welcome relief for many taxpayers, its timing creates havoc for many because the 2006 tax forms, IRS publications, and, of course, tax software products may not reflect the changes. This article, therefore, will highlight some of the legislation's provisions.