On Dec. 17, 2010, the President signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (2010 Tax Act) into law. The 2010 Tax Act affects several big chunks of the tax code, including federal income tax, federal estate tax, the generation-skipping transfer tax (GST) and the gift tax. Most of its changes strongly benefit IRA clients, and many have fast-approaching deadlines that create an urgency to act now.

 

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