Tax information providers CCH and RIA both released comprehensive explanations and practical analyses of the tax provisions contained in the Energy Policy Act of 2005 and the Safe, Accountable, Flexible and Efficient Transportation Equity Act of 2005.
The energy act will provide more than $14.5 billion in tax incentives to oil, gas and renewable energy companies over the next decade. Consumers, members of the housing industry, and car and appliance manufacturers may also benefit from the provisions in the new law. The transportation act contains a handful of miscellaneous provisions covering items such as the extension of fuel taxes, repeal of the harbor maintenance tax on exports, modification of the gas-guzzler tax and a cap on the excise tax on fishing rods. Both bills were passed by Congress recently and await President Bush's signature.
CCH's guide will be available to CCH Tax Internet Research NetWork subscribers, as well as for print and CD subscribers of CCH's federal tax services. Free online tax legislation updates at www.tax.cchgroup.com will also be provided through CCH Tax Briefing newsletters and daily legislative updates.
CCH will also publish two books on the provisions and present an audio conference on Aug. 19 for CPE credit. More information on the conference, and online order forms for the publications, can be found at CCH's online store, www.onlinestore.cch.com.
RIA, part of Thomson Corp., posted highlights of the energy act on its Checkpoint platform within 24 hours of the act's Senate passage on July 29. The company's complete analysis was available on Checkpoint on Aug. 1.
In a statement, Mark Schlageter, executive vice president and chief operations officer for Thomson Tax & Accounting, said that the 32-page RIA guide, "Highlights of the Energy Tax Act of 2005," will be available in print by the end of the week, and a more comprehensive version, "RIA's Complete Analysis of the Tax Provisions of the Energy and Transportations Acts of 2005," is expected to ship Aug. 7. More information can be found at RIA's Web site, www.ria.thomson.com.
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