by Michael G. Stevens

“Well, there you go again,” was one of President Ronald Reagan’s favorite phrases. Now we can say that phrase applies to President Bush and Congress. Less than two years after significant tax reduction legislation was enacted at Bush’s prodding, a new set of tax incentives have been unleashed, the “Jobs and Growth Tax Relief Reconciliation Act of 2003,” (the Act) P.L. 108-27, May 28, 2003. Regardless of the economic and political implications, accountants once again have to gear up to ensure their clients are fully taking advantage of the changes, especially the planning aspects.

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