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The Online Advisor - November 2001
Expect new tax legislation before year-end
Congress is expected to pass some kind of economic stimulus legislation soon. Tax breaks under consideration include changes to capital gains, the corporate alternative minimum tax, business depreciation, and net operating losses. Other items being discussed are tax rebates for low-income workers and accelerating tax rate cuts scheduled for future years.
In addition, several tax proposals were introduced in Congress following the September 11 attacks, including tax relief for the victims of the attacks and for rescue workers.
It s impossible to predict what Congress will actually pass. Visit this site frequently to stay informed about any last-minute legislation that could affect your year-end tax planning.