The 2011 Tax Year in Review

2011 was a busy year in state and federal tax news. This Tax Briefing from the CCH Group summarizes the year in federal tax news, including the:

• extension of the payroll tax cut for the first two months of 2012;
• expiration of various tax incentives, including deductions for state and local sales tax, higher education tuition, and teacher’s classroom expenses; and
• expansion of tax credits for employers that hire veterans who have been looking for employment for more than six months.

You can also read OLR’s 2011 Acts Affecting Taxes to review the key state tax law changes.