Congress has returned to work after its August recess under a tight deadline to reduce the federal budget deficit and also, possibly, extend some expiring tax incentives. Between now and the end of the year, Congress could enact significant tax reform in a deficit reduction package; or it may take a piecemeal approach. All this Congressional activity contributes to uncertainty in tax planning.

Tax legislation. In November, Congress passed the Worker, Home-ownership and Business Assistance Act. The new law provides all businesses with an expanded net operating loss (NOL) carry back and extends the first-time homebuyer credit. CCH Federal Tax Weekly, No. 45, November 12, 2009.

You've just filed your 2008 tax return and the last thing you likely want to think about is the next filing season. However, it never hurts to have a leg up, and with the end of filing season and the 2009 tax year well underway, now is a great time to take a look back and learn some lessons from this filing season that can undoubtedly help you next year.

Many businesses are foregoing salary increases this year because of the economic downturn. How does a business find and retain employees, as well as keep up morale, in the face of this reality? The combined use of fringe benefits and the tax law can help.

Individuals who have been "involuntarily terminated" from employment may be eligible for a temporary subsidy to help pay for COBRA continuation coverage. The temporary assistance is part of the American Recovery and Reinvestment Act of 2009 (2009 Recovery Act), and is aimed at helping individuals who have lost their jobs in our troubled economy.

No. Many individuals may be considering buying a new home in 2009 as home prices continue to drop in many areas across the country. They may also be wondering if they can claim the $8,000 first-time homebuyer tax credit before actually purchasing the home.

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines.