Federal Tax Watch
Special Issue February 2009
Stimulus act brings $300 billion in tax relief: Middle class, small businesses benefit most
President Obama signed The American Recovery and Reinvestment Act of 2009 on Feb. 17, 2009. The act is the tax portion of the $789 billion stimulus package that has been so hotly debated in Congress and the news in recent weeks.
The act provides nearly $300 billion in tax relief for tax years 2009 and 2010. Many of the tax provisions are retroactive to Jan. 1, 2009, and are intended to provide immediate tax relief to middle-class American citizens and small businesses. If you have questions about your particular situation, please call our office.
(Special Issue February 2009)
The technical information here is necessarily brief. No final conclusion on
these topics should be drawn without further review and consultation. Please
be advised that, based on current IRS rules and standards, the advice contained
herein is not intended to be used, nor can it be used, for the avoidance of any
tax penalty assessed by the IRS.
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