Accounting and Tax Services
Feb 19

American Recovery and Reinvestment Act of 2009

On 2/17/09, President Obama signed H.R. 1, the American Recovery and Reinvestment Act of 2009, into law. The President's signature sets the effective date for several Tax Act provisions tied to the date of enactment, such as the new deduction for sales and excise taxes on car purchases (effective for purchases on or after 2/17/09 and before 1/1/10). The IRS established a new webpage, which can be accessed at,,id=204335,00.html?portlet=6 , to provide information on the Tax Act. The IRS notes that the Act "does not have any major impact for the vast majority of individuals preparing their 2008 tax returns due April 15. Instead, these changes will largely impact 2009 tax returns filed next year, in 2010." However, there are "a few limited areas in the legislation that could impact 2008 tax returns.

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →