Congress’s long-awaited passage of tax extenders legislation provides a short-term extension through only the end of this year of dozens of familiar tax breaks for businesses and individuals, along with a new savings program for the disabled.
The Senate passed the Tax Increase Prevention Act on Tuesday evening and President Obama is expected to sign the bill into law (see Congress Passes Tax Extenders). The bill was combined with the Achieving a Better Life Experience Act, also known as the ABLE Act, to help those with disabilities and their caregivers to save and provide for education, housing, and medical expenses in the future.
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