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BLUE BOOK 2011

BLUE BOOK 2011 Joint Committee on Taxation's General Explanation of Tax Legislation Enacted in the 111th Congress

Author: Staff of the Joint Committee on Taxation
Publisher: CCH U.S.
ISBN: 9780808026716
Published In: April 2011
Format: Paperback , 648 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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This "Blue Book" offers a complete explanation with Congressional insights on all the Tax Legislation enacted by the 111th Congress - it is one of the most important volumes collected by serious tax professionals who will want a hands-on print edition in their libraries this year and in years to come. It is prepared by the staff of the Joint Committee on Taxation in consultation with the staffs of the House Committee on Ways and Means and the Senate Committee on Finance. Officially titled, "General Explanation of Tax Legislation Enacted in the 111th Congress", but the book is known to tax pros as Blue Book. The Blue Book is prepared so lawmakers, tax practitioners and other interested parties have comprehensive explanations in one volume of the final tax legislation enacted during the 111th Congress.

This latest Blue Book is of particular value to all people interested in U.S. tax law. Having all explanations in one book is important considering that there were many important pieces of tax legislation enacted by the 111th Congress, including the American Recovery and Reinvestment Act of 2009, 2010 Patient Protection and Affordable Care Act, 2010 Health Care Reconciliation Act, 2010 HIRE Act, theTax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, and the Regulated Investment Company Modernization Act of 2010

The Blue Book explanations contain the legislative history of each Act, descriptions of the prior law and new law, and, and for many provisions the reasons for the change. An Appendix provides estimates of the effects of the tax legislation on federal fiscal-year receipts for coming years.

The Blue Book's explanations serve as a useful guide in understanding the intent and meaning of the new tax laws and, along with committee and conference reports, is considered substantial authority for the tax treatment of an item for purposes of avoiding the Code Sec. 6662 accuracy-related penalty on substantial understatements of income tax (Reg. §1.6662-4(d)(3)(iii)).