In their continuing effort to avoid having a real tax policy, lawmakers extended the extenders again. Here are a few of the highlights of this absurd practice:
The deduction for state and local sales taxes expired on December 31, 2005. The new law retroactively reinstates the deductions for 2006 and for one year forward, 2007, after which the deductions expire, again.
The two tax credits for hiring economically disadvantaged individuals expired December 31, 2005. The new law retroactively reinstates the two ... Log in to view full article.