President Obama signed the 2010 tax package into law Friday, December 17, 2010. This is the Act that’s been so much in the news lately. Check out the TaxProf Blog’s compilation of both technical and opinion resources for answers to questions like: “What’s in the Act?” and “How will this Act affect me personally?”
If there’s an acronym for the Act’s title yet, then I don’t know what it is. Here’s the official title:
“TAX RELIEF, UNEMPLOYMENT INSURANCE REAUTHORIZATION, AND JOB CREATION ACT OF 2010”
It looks like a hard title to ‘acronym-ize’ into something memorable like COBRA, for example. COBRA (The Consolidated Omnibus Budget Reconciliation Act of 1985), like the 2010 Act, changed parts of the Internal Revenue Code.
COBRA denied employers tax deductions for health insurance premiums if the employer’s plan failed to provide for continuing coverage for separated employees. While I’ve heard many people speak of ‘COBRA coverage’ over the years, I’ll bet few of them knew their right to COBRA medical insurance came as a result of a change in the tax code.
Check out the TaxProf Blog to find out what new, COBRA-like changes may be buried in the 2010 “TRUIRJCA”. No! That will never do as an acronym for the
“TAX RELIEF, UNEMPLOYMENT INSURANCE REAUTHORIZATION, AND JOB CREATION ACT OF 2010”
