Tax Increase Prevention and Reconciliation Act of 2005

The Tax Increase Prevention and Reconciliation Act of 2005 (or TIPRA, Pub.L. 109–222, 120 Stat. 345) is an American law, which was enacted on May 17, 2006.

This bill prevents several tax provisions from sunseting in the near future. The two most notable pieces of the bill are the extension of the reduced tax rates on capital gains and dividends and extension of the alternative minimum tax (AMT) tax reduction.

Read more about Tax Increase Prevention And Reconciliation Act Of 2005:  Legislative History, Support, Criticism

Famous quotes containing the words tax, increase, prevention and/or act:

    What is the difference between a taxidermist and a tax collector? The taxidermist takes only your skin.
    Mark Twain [Samuel Langhorne Clemens] (1835–1910)

    The increase in wisdom can be measured precisely by the decrease in bile.
    Friedrich Nietzsche (1844–1900)

    ... if this world were anything near what it should be there would be no more need of a Book Week than there would be a of a Society for the Prevention of Cruelty to Children.
    Dorothy Parker (1893–1967)

    My dream thou brok’st not, but continued’st it.
    Thou art so true that thoughts of thee suffice
    To make dreams truths and fables histories;
    Enter these arms, for since thou thought’st it best
    Not to dream all my dream, let’s act the rest.
    John Donne (1572–1631)