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Tax Strategy: Selective Extension of Expired Provisions

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Congress has a lot of tax issues on its plate between now and the end of the year. The tax cuts from the 2001 and 2003 tax acts are still scheduled to expire for all taxpayers at the end of this year. The payroll tax reduction is scheduled to expire at the end of this year. Across-the-board spending cuts are scheduled to take effect at the end of this year. The tax provisions of the health care reform law, left intact by the Supreme Court, continue to come into effect, with the Medicare contribution taxes scheduled to commence in 2013. And the ever-growing list of regularly expiring provisions represents provisions that expired at the end of 2011 and have not yet been renewed.

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