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When do tax laws become "final"?

 

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Subject Author Date
When do tax laws become "final"? Ted 05-28-2008
Posted by s_pickle2001 on May 29, 2008, 3:24 pm
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>
> > At what point can one reasonably assume the tax laws (regulations? codes?)
> > are final for 2008?
>
> > December 31, 2007?
> > December 31, 2008?
> > April 15, 2009?
> > or some other date?
>
> Have never understood how it could (or should) be anything other than
> the first of these, given the phrase in Article I, Section 9, of the
> Constitution, which proves that: "No . . .  ex post facto Law will be
> passed."
>
> Without being quite as fervent as James Madison, Federalist Number 44,
> 1788:
>
> "Šex post facto laws Š are contrary to the first principles of the
> social compact, and to every principle of sound legislation. ... sudden
> changes and legislative interferences Š become jobs [i.e., tools, or
> tactics?] in the hands of enterprising and influential speculators, and
> snares to the more-industrious and less-informed part of the
> community." 
>
> it just seems to me that one should be able to make good faith financial
> decisions -- at least for the duration of a given year -- based on the
> tax laws relevant to those decisions _at the time they are made_.


When you are buying a house, you don't know how much property tax you
will have to pay in 5 years time.

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Posted by rick++ on May 29, 2008, 3:23 pm
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> At what point can one reasonably assume the tax laws (regulations? codes?)
> are final for 2008?

In 2001 the rebate law was RETROACTIVE, passed later in the year to
take effect for the whole year. Fortuneately it is was a lowering of
a low-end bracket and didnt cost additional tax.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Barry Margolin on May 29, 2008, 6:04 pm
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In article

> > At what point can one reasonably assume the tax laws (regulations? codes?)
> > are final for 2008?
>
> In 2001 the rebate law was RETROACTIVE, passed later in the year to
> take effect for the whole year. Fortuneately it is was a lowering of
> a low-end bracket and didnt cost additional tax.

If Congress makes a change after you file your tax return, are you
required to file an amended return if it affects you? I'm guessing it
would only be required if it increases your tax.

--
Barry Margolin, barmar@alum.mit.edu
Arlington, MA
*** PLEASE don't copy me on replies, I'll read them in the group ***

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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