Monthly Archives: January 2010

Payroll Tax Cut in the 2010 Tax Relief Act

The biggest new tax break for individuals in the recently enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” is the one-year payroll tax reduction. Under this new provision, which is intended to supplement income and boost economic growth, the payroll tax—which funds Social Security—will be cut by two percentage points during […]


Reinstatement of the Estate Tax in the 2010 Tax Relief Act

Before the recently enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” there was no estate tax for 2010, but some beneficiaries could have faced higher taxes because there were less favorable income tax basis rules. Also, under the prior law, estate and other transfer taxes were scheduled to rise substantially for […]