A. On the contrary. Although Congress didn’t extend several popular tax benefits—such as the tax credit for research and development (R&D) expenses, the jobs credit for hiring certain disadvantaged workers and the college tuition deduction—it will be tackling those issues again before the end of the year. It’s likely that Congress will reinstate those expired tax breaks retroactive to the beginning of 2006. Tip: At this writing, the chances appear slim that any significant estate reform will be enacted this year.
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