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President Bush Signs Two Tax Bills

President Bush yesterday signed into law (here and here):

  • H.R. 3996, The Tax Increase Prevention Act of 2007 (blogged here), which provides a one-year AMT patch Upon final House passage of H.R. 3996, IRS issued a statement saying it would have revised copies of the 12 tax forms affected by the AMT change posted to its Web site, http://www.irs.gov, within 72 hours after the measure is signed into law
  • H.R. 2764, the fiscal year omnibus appropriations bill, which provides $10.89 billion of funding to the IRS, a $295 million increase over fiscal year 2007 but $203 million below President Bush’s original request.

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