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Subject:
Item Title: Who Benefits From the New 'Heroes Tax Act?'
Summary:
The Heroes Earnings Assistance and Relief Tax Act of 2008 was signed into law by President Bush on June 17, 2008. The main focus of the new law is to provide tax relief to members of the armed forces, although there are also provisions affecting others, including onerous new rules aimed at high-income individuals who relinquish U.S. citizenship or residency to avoid taxation. Here are highlights of the Heroes Tax Act.
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In accordance with Internal Revenue Service Circular 230, we advise you that unless otherwise expressly stated, any discussion of a federal tax issue in this communication or in any attachment is not intended to be used, and it cannot be used, for the purpose of avoiding federal tax penalties.