I have been involved in reporting federal tax legislation for well over a quarter of a century and I am amazed that Congress can still surprise me. It happened with the "American Job Creation Act of 2004," which will be the second significant election year enacted tax law, closely following the "Working Families Tax Relief Act of 2004."
This second piece of tax legislation is surprising on many levels. Rather than simply dealing with the repeal of the Foreign Sales Corporation/extra territorial income Internal Revenue Code provisions, as originally expected, it snowballed into massive tax legislation.
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