Tuesday, February 26, 2013
The Joint Committee on Taxation yesterday released General Explanation of Tax Legislation Enacted in the 112th Congress (JCS-2-13):
This document ... provides
an explanation of tax legislation enacted in the 112th Congress.
The explanation follows the chronological order of the tax legislation
as signed into law. For each provision, the document includes a description of
present law, explanation of the provision, and effective date.
Present law describes the law in effect immediately prior to enactment.
It does not reflect changes to the law made by the provision
or subsequent to the enactment of the provision. For many provisions,
the reasons for change are also included. In some instances,
provisions included in legislation enacted in the 112th Congress
were not reported out of committee before enactment. For example,
in some cases, the provisions enacted were included in bills that
went directly to the House and Senate floors. As a result, the legislative
history of such provisions does not include the reasons for
change normally included in a committee report. In the case of
such provisions, no reasons for change are included with the explanation
of the provision in this document.