Tax Cuts

[Guest chris4013]

I was looking for some information on the tax cuts that are expected to be signed by Pres. Bush next week. Do they include any changes to retirement plans? I was under the impression that the bill might extend adp refunds until 6 mos. after the plan year.

Thank you

[Theresa Lynn]

Here is the Joint Committee summary.

http://www.house.gov/jct/x-54-03.pdf

I have not looked at the actual bill language yet (which always includes a few surprises not discussed in the official summaries), but my understandig is that any pension and benefit changes are only indirect--for example, I am assuming that the reduction in tax rates for dividends and capital gains will help employees under stock purchase plans, persons receiving a distribution eligible for the 1974 capital gains treatment rules, etc.

Also look at the attachment