Anderson Tax & Accounting, Ltd.

New law extends Bush-era tax rates for two years

After weeks of wrangling over the details, both the Senate and the House passed a bill that will extend the tax rates in effect in 2010 for another two years, through December 31, 2012. President Obama signed the2010 Tax Relief Actinto law on December 17, 2010. Here's an overview of the key provisions in the law. Tax rates.The existing tax rates established in the 2001 and 2003 tax laws will continue for all taxpayers through 2012. This means the top tax rate for 2011 and 2012 will ... READ MORE Posted February 10, 2011 at 07:33 AM