Posted in February 2011 on Tuesday, February 1, 2011
Congress left taxpayers on the edge of their seats up until nearly the end of the year. With the Bush tax cuts set to expire at the end of 2010, taxpayer friendly legislation was needed or comparatively unfavorable provisions would go into effect. With the rapidly increasing national debt, many feared Congressional inaction. At what seemed to be the eleventh hour, Congress, generously and somewhat unexpectedly, passed favorable legislation to benefit taxpayers retroactively and into 2011.